Bahrain central bank follows Fed to lift interest rates by 25 bps

Published on February 02, 2023 06:20 AM AEDT

Bahrain central bank follows Fed to lift interest rates by 25 bps — Image source: ©2022 Kalkine Media®

DUBAI, Feb 1 (Reuters) - The Central Bank of Bahrain lifted its key interest rates by 25 basis points on Wednesday, following the Federal Reserve's hike of the same size.

The one-week deposit facility rate increased to 5.5% from 5.25% and the overnight deposit rate was raised to 5.25% from 5%, a central bank statement said.

The four-week deposit rate increased to 6.25% and the lending rate rose to 6.75%, it added. (Reporting by Alaa Swilam and Ahmed Tolba in Cairo; Writing by Yousef Saba in Dubai)

Reuters

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