Bahrain central bank cuts key rates by 75 bps

Bahrain's central bank cut its key interest rates by 75 basis points (bps) on Monday, following the U.S. Federal Reserve, which slashed its rates to near zero a day earlier to bolster the economy as the coronavirus epidemic spreads.

The Central Bank of Bahrain cut its interest rates on overnight, one-week and one-month deposits by 75 bps to 0.75%, 1.00%, and 1.45% respectively. It cut its lending rate by the same level to 1.7% from 2.45%.