Jordan's commercial banks have decided to cut the prime lending rate to nine percent from April 1, the head of Jordan's bank association said in statements published Tuesday, March 20. Zuheir Khouri said the association decided at a meeting on Monday to reduce the prime lending rate to nine percent from its current rate of 11 or 12 percent as part of national "monetary policies", the press reported.
The announcement follows a decision by Jordan's central bank in February to cut interest rates by one-half percentage point to 6.0 percent in a bid to stimulate the economy. —(AFP)
© Agence France Presse 2000
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