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Kuwait
The central bank announced that it had decided to keep the discount rate unchanged at its current level of 3%.
"As part of CBK's desire to strengthen the climate for non-inflationary economic growth in the non-oil sectors, maintain the competitiveness of the national currency and its attractiveness as a domestic savings vessel, and the July 31 decision by the US Federal Reserve to reduce US dollar interest rates, the management of the Central Bank of Kuwait will maintain its discount rate compared to the current level of 3.0% .
"This decision is part of the approach taken by the Central Bank of Kuwait, which is based on a careful reading of economic developments, financial and banking movements and global interest rates", a- he added.
Bahrain
The Central Bank of Bahrain (CBB) announced its decision to reduce the base deposit reference rate by 25 basis points to one week from 2.75% to 2.50%.
The Bahraini central bank also lowered the sight deposit rate from 2.50% to 2.25% and from 4.50% to 4.25%, as well as the one-month deposit rate from 3.10% to 2.85%.
– the emirates
The UAE's central bank announced that it had decided to reduce its repo rate by 25 basis points as of August 1, in line with the Federal Reserve's decision to lower interest rates. 0.25%.
The central bank of the United Arab Emirates (UAE) announced in a statement that it had also lowered the benchmark deposit rate by 25 basis points as of Thursday, 1 August.
Saudi Arabia
The Saudi Monetary Agency (SAMA) said it had lowered its key rates in order to maintain monetary stability following the Fed's decision to cut rates for the first time in more than a decade.
SAMA has reduced the repo rate used to lend money to banks from 300 to 275 basis points.
The institution also reduced the repo rate, in which commercial banks deposit money with the central bank, on the same margin, at 225 basis points.
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