Central Bank Raises Interest Rate 25pts

تم نشره في Thu 14 June / Jun 2018. 12:00 AM

AMMAN —AlGhad— The Central Bank of Jordan (CBJ) raised the base interest rate by 0.25 per cent (25 basic points) today, Thursday, as of Tuesday, June 19, 2018.

The CBJ open market operations committee pinned the interest rate on credit facilities extended to economic sectors in Amman and governorates at 1.75 per cent and 1 per cent, respectively.

With the above exceptions, in addition to the prime interest rate for the CBJ, discounts and other credit instruments, all other rates will see the increase as of the date above.

According to a statement by CBJ, these interest hikes are intended to up interests on deposits, to reinforce financial and fiscal stability.

It will also support the Jordanian Dinar against the global currency basket, while maintaining other interest rates unchanged, to lower borrowing costs, the statement said.