Press Releases

H.E. the Governor of the Central Bank of Kuwait (CBK), Sheikh Salem Abdulaziz Al-Sabah, announced that the CBK board of directors has decided to raise the discount rate by 25 basis points to 4.50%. H.E. the Governor explained in a press statement to the Kuwait News Agency (KUNA) that the decision reflects continued CBK efforts to maintain monetary stability in the national economy, to help provide an environment conducive to balanced and sustainable real economic growth.

H.E. the Governor added that the conformity of KD interest rates with the upward trend in interest rates on major currencies, particularly the US dollar to which the KD is pegged within certain margins, is a mainstay of the monetary and financial stability in the national economy, in view of its structure and openness to the outside world.

Finally, H.E. the Governor emphasized the continued vigilance by CBK of developments in interest rates on international currencies and their impact on domestic banking, monetary and economic conditions, and CBK's readiness to move again if need be to strengthen the consistency of KD interest rates with those on major international currencies in order to maintain monetary and financial stability in the national economy.