Kuwait central bank raises discount rate by 25 bps | Reuters
The Central Bank of Kuwait raised its discount rate by 25 basis points to 2.75% effective from Thursday, it said in a statement on Wednesday.
The decision was in response to inflationary pressures, bank Governor Basel al-Haroon said in the statement.
The bank had also increased the rate by 25 bps on July 27, after a 75 bps hike by the U.S. Federal Reserve.
All Gulf countries have their currencies pegged to the dollar except Kuwait, which pegs its dinar to a currency basket including the dollar.
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