Middle East Economic Survey
Kuwaits Central Bank Cuts Discount Rate To 2.5%
The Central Bank of Kuwait (CBK) cut its key discount rate by 50 bps to 2.5% on 7 February. The bank has cut its key rate by 200 bps since October 2008, with the previous 50 bps reduction in May 2009. The move comes against a backdrop of weak credit growth in Kuwait and low inflation, said Emirates NBD in its February report. In addition to cutting the discount rate, CBK lowered its...