Jordan Central Bank Cuts Interest Rate by 25 Basis Points

Forex - The Central Bank of Jordan (CBJ) has lowered the benchmark interest rate by 25 basis points. According to the statement from the CBJ, the benchmark interest rate has been reduced from 6.75% to 6.50%. The CBJ Monetary Policy Committee emphasized the strength of monetary indicators and the power of the Jordanian dinar. The statement said, "The Central Bank reaffirms its ongoing determination to monitor economic, financial, and monetary developments at local, regional, and global levels and to take appropriate measures to ensure monetary and financial stability in the Kingdom." The Central Bank of Jordan, like other central banks in the Gulf countries, is also following the interest rate decisions of the US Federal Reserve (Fed). The Fed had announced earlier in the week that it would lower the policy rate by 25 basis points.