Jordan’s Central Bank decreases interest rates by 25 basis points

Jordan

Published: 2019-08-01 13:06

Last Updated: 2019-08-01 15:09


Jordan’s Central Bank decreases interest rates by 25 basis points
Jordan’s Central Bank decreases interest rates by 25 basis points
Roya News Source

The Central Bank of Jordan (CBJ) has decided to decrease the interest rates on its various monetary policy instruments by 25 basis points as of Sunday, August 4, 2019.

In a statement released by the CBJ, the decision to decrease interest rate took into consideration all regional and global developments as well as monetary developments. It will maintain monetary and financial stability in the kingdom.

This decision comes in light of the low inflation rate, which is expected to remain low during 2019, in addition to the remarkable improvement in the balance of payments, the low trade balance deficit and the positive developments in the monetary indicators, including high deposit rate and facilities in the private sector as well as to the availability of enough foreign reserves in the bank.

The CBJ's Open Market Operations Committee decided to keep concessional financing rates unchanged at 1.75 % for projects located in the capital city Amman and 1 % for projects located in other governorates.