Press Releases
CBK Cuts its Discount Rate by a Quarter Percent to 3.50%
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 cut the CBK discount rate by 25 basis points from 3.75% to 3.50%, effective Monday 13th of April 2009. H.E. the Governor explained that this decision represents a continuation of CBK's efforts to strengthen the foundations of growth in the domestic economy in the face of the challenges of the global financial and economic crisis.
H.E. the Governor of CBK indicated that this decision helps provide an additional dose of support to the domestic economy by reducing the cost of credit, and thus enhances the stimulus effect of the CBK monetary policy in the current stage, especially as the Financial Stability Decree Law has just been enacted and entered the implementation phase.
H.E. the Governor concluded his statement by assuring that CBK is closely following up the domestic economic, monetary and banking developments and the challenges imposed by the current crisis, and it will not hesitate in moving to overcome those challenges.
