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Jordan's central bank lowers interest rates to drive growth

English.news.cn   2014-01-20 01:34:46

AMMAN, Jan. 19 (Xinhua) -- The Central Bank of Jordan (CBJ) decided to lower interest rates on key monetary policy instruments by 25 basis points on Sunday, according to a statement by CBJ.

The bank said in the statement that it reduced rediscount rate to 4.25 percent, overnight repurchase agreements to 4.00 percent, and overnight Deposit Window Facility to 3.25 percent.

The bank believed the measure is a catalyst to further economic growth through promoting private sector credit expansion, and came in light of the continuous improvement in Jordan's fundamental economic indicators, including subdued inflationary pressures, higher appetite for Jordanian dinar denominated assets, increased investment inflows, and the resulting positive impact on foreign reserves.

Editor: Mengjie
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