Financial and Banking News
Kuwait Raises Discount Rate To 6.75%
The Central Bank of Kuwait has raised its discount rate by 0.5% to 6.25%,reversing the recent trend of interest rate cuts. The discount rate, againstwhich deposit and loan rates are fixed, was cut three times last year,reflecting falling international rates. The Central Bank's decision to increasethe rate was announced on 17 August, the day after the US Federal Reserve raisedits...