Manama: The Central Bank of Bahrain (CBB) announced its decision to cut the overnight deposit interest rate by 25 basis points from 4.75% to 4.50%, effective October 30. This move is a part of CBB's efforts to maintain monetary and financial stability in the Kingdom of Bahrain.
According to Bahrain News Agency, the decision is a response to global financial market developments. The adjustment in the interest rate is a strategic measure aimed at ensuring stability in Bahrain's financial environment amidst changing international economic conditions.