Jordan's interest rates expected to rise in response to US Federal Reserve

Association of Banks in Jordan ABJ
(Photo: Association of Banks in Jordan)
AMMAN — The Director of the Association of Banks in Jordan, Maher Al-Mahrouq, has stated that interest rates in Jordan are expected to rise in the next two days. اضافة اعلان

This decision is likely to be made in response to the US Federal Reserve's recent announcement that it has raised interest rates for the 10th consecutive time, according to Al-Mamlaka TV.

Impact on the banking sectorAccording to Mahrouq, if the Central Bank in Jordan proceeds with the decision to raise interest rates, it will have an impact on the banking sector in the Kingdom.

The US Federal Reserve announced its decision to raise interest rates for the 10th time in a row on Wednesday. However, the central bank also suggested that it might soften its approach in the near future in light of a possible economic downturn in the US.

Mahrouq inferred that the US Federal Reserve's decision was made in response to continuing levels of inflation in the US economy. 

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