No. 08



Jordans Central Bank Cuts Interest Rates By 0.5% To Stimulate Economy

The Central Bank of Jordan (CBJ) cut interest rates on 3 February by 0.50 percentage points to stimulate the economy, CBJs new governor, Umayyah Tuqan, said. The discount rate was cut to 6%, the weekly refinancing rate on certificates of deposits to 7% and the interbank rate to 5.125%. Mr Tuqan said he expects a banking sector cut in rates to promote economic activity and added that the...