March 20, 2019 / 6:55 PM / 7 months ago

Bahrain central bank cuts one-month deposit rate -statement

DUBAI, March 20 (Reuters) - Bahrain’s central bank said it cut its one-month deposit rate to 3.10 percent from 3.25 percent on Wednesday, but kept rates for overnight and one-week deposit facilities unchanged.

The move came after the Federal Reserve held interest rates steady on Wednesday and its policymakers abandoned projections for further rate hikes this year as the U.S. central bank flagged an expected slowdown in the economy.

Bahrain’s key policy interest rate is the one-week deposit facility, which remained unchanged at 2.75 percent. (Reporting by Aziz El Yaakoubi and Saeed Azhar Editing by Mark Heinrich)

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