Bahrain’s central bank follows Fed to raise key interest rates by 75 bps – statement
2:18 pm Wednesday, November 02nd, 2022
(Reuters) – The Central Bank of Bahrain (CBB) said on Wednesday it raised its key policy interest rate on its one-week deposit facility by 75 basis points to 4.75%, following the U.S. Federal Reserve’s fourth straight hike of that size as the Bahraini dinar is pegged to the dollar.
CBB also hiked by 75 bps the overnight deposit rate to 4.5%, the four-week deposit rate to 5.5% and the lending rate to 6%, it said in a statement.
(Reporting by Mahmoud Mourad and Ahmad Elhamy in Cairo; writing by Yousef Saba in Dubai; editing by Jonathan Oatis)
