Kuwait joins hikers club in wake of Fed rate rise

Central Bank of Kuwait

Ripples emanating from the US Federal Reserve interest rate hike earlier this week continue to impact countries and institutions across the globe, with central banks in the Middle East region no exception.

In a late announcement on December 16, the Central Bank of Kuwait announced its board of directors had decided to raise the discount rate by 25 basis points from 2% to 2.25%, promptly after the Fed announced its own move. The discount rate had been at historically low levels since 2012.


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