Central bank keeps interest rates unchanged at their current level

Central Bank of Jordan CBJ
(File photo: Jordan News)
AMMAN – The Open Market Operations Committee at the Central Bank of Jordan decided on Thursday, to keep the interest rates of monetary policy instruments unchanged at their current levels without any changes.اضافة اعلان

According to Al-Mamlaka TV, the committee affirmed the central bank's continued close monitoring of the performance of the national economy, as well as regional and international economic and geopolitical developments in the region.

The committee extensively discussed the indicators of the national economy's performance, based on the latest available economic data for the year 2023. The data included foreign reserves for the central bank, which reached $17.2 billion, covering Jordan's imports of goods and services for 7.6 months. Deposits in banks increased by JD1.4 billion at the end of October 2023, with a growth rate of 3.3 percent, reaching JD43.3 billion.

Credit facilities provided by banks increased by about JD1.3 billion, with a growth of 4.6 percent. The committee expressed confidence in the strength, safety, and prevention of the Jordanian banking system, as reflected in the latest indicators of financial safety.

The committee also reviewed the developments in the external sector in the Kingdom. Tourist income increased by 30.5 percent during the first eleven months of 2023. National goods exports reached JD6.3 billion during the first three quarters of the current year. Remittances from Jordanians working abroad increased by 1.1 percent, reaching JD2.0 billion during the first ten months of the current year. At the same time, foreign direct investment into Jordan increased by 20.9 percent during the first half of the current year, reaching $776 million.

The national economy achieved higher-than-expected growth, with a rate of 2.7 percent during the first half of the current year, in addition to a decrease in the inflation rate to 2.1 percent during the first eleven months of 2023.

Read more National news
Jordan News