- CBK reduces benchmark discount rate to 4% to stimulate economic growth as inflation declines
- Rate cut aims to support borrowing and investment in key sectors, improving private sector outlook
The Central Bank of Kuwait (CBK) announced Wednesday a 25-basis point reduction in its benchmark discount rate, bringing it down to 4% from 4.25%. The CBK stated that this move is intended to foster long-term growth across various economic sectors by stimulating demand, particularly as inflationary pressures in the national economy have eased. Kuwait’s annual inflation rate dropped from 4.71% in April 2022 to around 3% in July 2024.
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