Jordan cuts rates for first time in four years

Interest rates on paper

The Central Bank of Jordan has cut its policy rate by 25 basis points to 4.5%, representing the central bank’s first cut in four years.

Its open market operations committee voted to cut the rate on August 1, the bank said in a statement. The cut reverses the policy rate to where it stood before December 2018, when the Central Bank of Jordan raised interest rates to 4.75%. Jordan has not seen a drop in rates since early 2015, after which the central bank has gradually raised rates from 2.5% to

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