June 13, 2018 / 6:54 PM / a month ago

Bahrain raises key policy interest rate by 25 basis points

DUBAI, June 13 (Reuters) - Bahrain’s central bank said on Wednesday it was raising its key policy interest rate by 25 basis points.

The move came after the U.S. Federal Reserve decided to raise its target range for the federal funds interest rate by a quarter point, to between 1.75 percent and 2 percent.

Bahrain’s interest rate on the one-week deposit facility was raised to 2.25 percent from 2.0 percent, while the overnight deposit rate was raised to 2 percent from 1.75 percent.

The one-month deposit rate was increased to 3 percent from 2.65 percent, and the lending rate was increased to 4 percent from 3.75 percent. (Reporting by Davide Barbuscia and Saeed Azhar Editing by Alison Williams)

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