Bahrain central bank cuts overnight lending rate to 2.45 pct

The Central Bankof Bahrain. (Supplied)

Bahrain’s central bank cut its overnight lending rate to 2.45 per cent from 4per cent “in light of the recent global developments,” it said in a statement on Thursday.

“The CBB continues to monitor global and local market developments closely in order to take any further necessary actions,” it said, adding it cut the rate to “to ensure the smooth functioning of the money markets in Bahrain.”

For more coronavirus news, visit our dedicated page.

Last Update: Wednesday, 20 May 2020 KSA 14:06 - GMT 11:06