Egypt's central bank unexpectedly lowered its main overnight interest rate by 50 basis points at a policy meeting on Thursday, saying it was more concerned about boosting growth than taming resurgent inflation.
Kuwait's unexpected 50 basis-point interest rate cut will help reduce borrowing costs for businesses but is not going to be enough to kick-start bank lending without a lasting solution to the country's political crisis.
India's central bank cut interest rates on Tuesday for the first time in three years by an unexpectedly sharp 50 basis points to give a boost to flagging economic growth but warned that there is limited scope for further rate cuts.
China raised interest rates for the third time this year on Wednesday, making clear that taming inflation remains a top priority even as the growth pace of its vast economy gently eases.
The 25-basis-point increase in lending and deposit
Kuwait's central bank cut its key discount rate by 50 basis points to 2.5 per cent to support growth in the country's non-oil sectors as inflation is seen staying low.
Policymakers across the world's largest oil exporting region slashed bo
The dollar dipped on Tuesday after Federal Reserve chairman Ben Bernanke dampened speculation of an early US interest rate rise, while shares faltered on renewed concern about the strength of the global recovery.
The dollar edged down 0.2
New mortgage lender Abu Dhabi Finance, a consortium of five Abu Dhabi companies, said on Wednesday it may cut lending rates, possibly stimulating demand.
"We have seen great demand for mortgage finance at Abu Dhabi Finance," the firm's chi
Bahrain's central bank does not plan to cut interest rates in the near future, a spokeswoman said, confirming a media report earlier on Monday and following two rate reductions in the Gulf region last week.
Bahrain's Al-Waqt newspaper on M
The Central Bank of Jordan (CBJ) has lowered its benchmark discount rate by 0.5 percentage points and reduced the rate of the compulsory cash reserves on banks deposits to help boost liquidity and stimulate lending.
The CBJ said on Thursda
Further rate cuts are expected in Saudi Arabia in 2009 as the economy witnesses slower growth, said Standard Chartered Bank as it forecast reverse repo rate to come down to 0.50 per cent by the second quarter.
The recent cuts in the repo a