Financial and Banking News
Central Bank Of Kuwait Reduces Discount Rate For Fourth Time
The Central Bank of Kuwait is to reduce its discount rate by 0.5% to 5.75%,the fourth reduction in the space of six months. With US dollar rates still low,the Central Bank can afford to push domestic rates lower in order to reduce thebanks' cost of funds and encourage local lending. A reduction in banks' cost offunds also allows the government to reduce the...