Bahrain Central Bank Cuts Interest Rate by 25 Basis Points

Forex - The Central Bank of Bahrain (CBB) has reduced its 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 lowered from 5.25% to 5.00%. The statement noted, "This decision is part of the measures taken by the Central Bank to ensure monetary and financial stability in Bahrain in light of developments in global financial markets." The CBB's interest rate decision follows the 25 basis point rate cut announced by the U.S. Federal Reserve.