AMMAN — The Central Bank of Jordan's (CBJ) open market operations committee on Tuesday decided to increase the main interest rate of the bank and the interest on finance policy tools by 50 basis points as of Tuesday, the Jordan News Agency, Petra, reported. 

 

The committee's decision was taken in light of the outcome of the bank's follow-up on economic and monetary developments on the local, regional and international levels and in line with the developments in interest rates at regional and international monetary markets and their future expectations. 

 

The decision also aims at ensuring a boost to competitiveness of assets expressed in Jordanian dinar and preserving financial and monetary stability. 

 

Under the decision, the main interest rate at the CBJ stands at 3.25 per cent annually and Jordanian dinar overnight deposit rate becomes 2.25 per cent. 

 

The rate of one-week deposit certificates will range between 3-3.25 per cent annually, Petra reported, adding that interest rate of overnight repurchase agreements has become 4 per cent annually.