Bahrain Lifts Rates Following Fed

2023-05-03 18:21 By Mojdeh Kazemi 1 min. read

The central bank of Bahrain increased its one-week deposit facility by 25bps to 6% on May 3, 2023, tracking the US Fed’s hike.

The bank also raised its one-month deposit, overnight deposit and lending rates by 25 bps to 5.75% and 7%, respectively.

Bahrain usually follows the Fed’s lead on interest rates as it maintains an exchange rate peg at 0.376 Bahraini dinars to the US dollar.



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