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  • 01-10-18

    Central Bank of Jordan to raise interest rates

    (MENAFN) The Central Bank of Jordan (CBJ) decided to impose a 25 basis points raise to the rate of interest on its range of monetary policy tools on Monday.

    Petra news agency cited the central bank saying that it aims to develop Jordan's monetary and fiscal stability.

    The bank was also unveiled to have reached a resolution to continue maintaining the refinancing rates at its previous levels of 1.75 percent for projects initiated in Amman as well as 1 percent for projects launched in other governorates.

    It comes after the Kingdom already implemented a 25 basis points boost on the interest rate in March 2018.

    The decision has been secured shortly after the Federal Reserve increased US short-term interest rates for the third time within this year.

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