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Jordan : CBJ decides to lower interest rates on KEY MONETARY POLICY INSTRUMENTS.

The Central Bank of Jordan (CBJ) has made one`s mind to lower interest rates on key monetary policy instruments by 25 basis points.

It is stated by the bank that it has cut down the rediscount rate to 4.25 percent, overnight repurchase agreements to 4.00 percent, and overnight Deposit Window Facility to 3.25 percent.

The bank conceives that the measure is a catalyst to further economic development via promoting private sector credit expansion, and came in light of the continuous improvement in Jordans fundamental economic indicators, comprising of the subdued inflationary pressures, higher appetite for Jordanian dinar denominated assets, increased investment inflows, and the resulting positive impact on foreign reserves.

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Publication:Mena Report
Date:Jan 20, 2014
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