Press Releases

The Governor of the Central Bank of Kuwait (CBK), Sheikh Salem Abdulaziz Al-Sabah, announced in a press statement to the Kuwait News Agency (KUNA) that the CBK Board of Directors has decided to cut the CBK discount rate by a half percentage point to 3.25% from 3.75%. The Governor expounded that this decision was taken in view of the constant monitoring by CBK of the economic, monetary and banking developments in the domestic market, and its continuous review of interest rate levels of the Kuwaiti Dinar (KD) to ensure their conformity to those developments on the one hand, and consistency with interest rate trends on major currencies on the other hand. Sheikh Salem Abdulaziz Al-Sabah further explained that both the abundant liquidity in the local market and the recent cut in the interest rates on the US dollar have necessitated the cut in interest rates on the KD in the domestic market to prevent the widening of margins that exist in favor of the KD interest rates from reaching unwarranted levels in the current stage.