Jordan Central Bank Reduces Interest Rates by 50 Basis Points for First Time Since 2022

The Jordan Central Bank (JCB) decided Thursday to reduce interest rates on all monetary policy instruments by 50 basis points, effective from September 22. This decision comes after the end of the monetary tightening cycle that the JCB implemented since the end of March 2022, with the aim of maintaining monetary stability and the strength of the dinar (local currency), as well as containing inflationary pressures. The JCB affirmed in a statement in this regard its continued commitment to monitoring economic and financial developments locally, regionally and globally, and taking appropriate measures that ensure maintaining monetary and financial stability in the country. The JCB's decision came the day after the US Federal Reserve announced, Wednesday, reducing interest rates by 50 basis points to a range between 4.75 percent and 5.00 percent. The exchange rate of the Jordanian dinar has been linked to the US dollar at $1.41 per dinar since 1995. Source: Qatar News Agency