Mubasher: The Central Bank of Kuwait (CBK) has decided to keep the current interest rates unchanged at 3.0% after the US Federal Reserve cut interest rates for the second time since 2008.
The CBK’s decision is aimed at improving the growth enabling environment and ensuring continued attractiveness of the national currency as a reliable store of domestic savings, according to an official statement.
The decision is expected to “maintain a healthy margin in favour of the Kuwaiti Dinar, boost returns on the dinar deposits, and allow for a conducive environment for economic growth”, the CBK revealed.
On Wednesday, the Federal Reserve reduced the target range for its key interest rate by 25 basis points to a range between 1.75% and 2%, which was an expected decision that faced by a backlash from the US President Donald Trump.
