Kuwait raises policy rate 25bp

Central Bank of Kuwait
Central Bank of Kuwait
Francisco Anzola

The Central Bank of Kuwait raised its policy rate 25 basis points to 2.75%, on August 10, its fifth rate increase this year.

Like other central banks on the Arabian peninsula, the Kuwaiti central bank usually sets interest rates immediately after the US Federal Reserve does. Kuwait pegs its currency to an undisclosed basket of currencies, while its neighbours link their currencies to the US dollar.

The other Gulf states usually adopt rate changes equal to those made by the Federal Open Market

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