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Jordanian central bank increases key interest rates by 25 basis points

06-01-2011 09:49 BJT

AMMAN, May 31 (Xinhua) -- The Central Bank of Jordan (CBJ) on Tuesday decided to increase key interest rates by 25 basis points in a bid to maintain monetary stability and create an appropriate climate to absorb the impact of inflation, a CBJ statement said.

The decision, which goes into effect as of June 1, entails increasing the deposit windows rate to 2.25 percent annually from current 2 percent.

It also entails increasing the repo rate to 4.25 percent annually from 4 percent currently and the rediscount rate from 4. 25 percent to 4.5 percent annually.

In the statement, CBJ Governor Sharif Fares Abdul Hamid Sharaf stressed the importance of preserving prudent monetary policy, adding that the CBJ will continue to monitor the main economic and financial changes at the local and international levels and take suitable steps in this regard.

The CBJ slashed the key interest rates by 50 basis points in February to spur the country's economy.

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Editor:Yang Jie |Source: Xinhua

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