Mubasher: The Central Bank of Kuwait (CBK) decided to cut its discount rate by 25 basis points (0.25%) to reach 2.5% from 2.75%, Kuwait News Agency (KUNA) reported on Wednesday.
Overnight repo rate currently stands at 2%, while the one-week and one-month repo rates are at 2.25% and 2.75%, respectively, as shown by the CBK's website.
The move follows a decision by the US Federal Reserve on Tuesday to cut interest rates by 0.5%.
Central banks in Saudi Arabia and the UAE announced similar decisions regarding their interest rates.
