Press Releases
CBK Raises its Discount Rate to 4.25%
H.E. the Governor of the Central Bank of Kuwait (CBK), Sheikh Salem Abdulaziz Al-Sabah, announced that the CBK Board of Directors decided today to raise the discount rate by a quarter percentage point to 4.25% from 4%. In his press statement, H.E. the Governor's explained that this decision was taken to increase the attractiveness of the national currency as a store for domestic savings, as well as to enhance its competitiveness in the view of the upward trend in interest rates on major currencies particularly the US dollar, to which the KD is pegged within fixed margins.
H.E. the Governor added that the CBK would continue to ensure consistency in interest rates on the KD and those on major currencies, in support of domestic savings, which provide for the financing requirements of the economic sectors of the Kuwaiti economy, giving due consideration to the domestic economic, monetary and banking developments.
