Bahrain’s central bank mirrors Fed, raises rates by 25 bps

DUBAI (Reuters) – The Central Bank of Bahrain increased its key interest rates by 25 basis points on Wednesday, following the Federal Reserve’s hike of the same size as the dinar is pegged to the dollar.

The one-week deposit facility rate increased to 5.75% from 5.5% and the overnight deposit rate was raised to 5.5% from 5.25%, the central bank said on Twitter.

The four-week deposit rate increased to 6.5% from 6.25%, it added.

(Reporting by Yomna Ehab in Cairo; Writing by Yousef Saba in Dubai)