Jordan Central Bank Cuts Rediscount Rate

AMMAN, 4 February 2008 — The Central Bank of Jordan yesterday cut the rediscount rate by 25 basis points, to 6.75 percent from 7.00 percent, to cope with recent reductions in the dollar’s rates, a CBJ statement said. The CBJ also slashed the rates of the repurchase agreements (REPO) to 6.50 percent from 6.75 percent.