Bahrain Central Bank Cuts Interest Rate by 25 Basis Points

Forex - The Central Bank of Bahrain (CBB) has lowered the policy interest rate by 25 basis points. According to a statement from the CBB, the overnight deposit rate, which is used as a benchmark, has been reduced from 5.50% to 5.25%. The statement noted, "This decision comes as part of measures taken by the Central Bank to ensure monetary and financial stability in Bahrain in light of developments in the global financial markets." The CBB's interest rate decision follows a 25 basis point cut announced by the Federal Reserve.