Rate Cut Might Not Reverse Credit Contraction

With inflationary pressures continuing to subside, the Central Bank of Jordan (CBJ) cut its benchmark interest rates by 50bps on April 19. This is the third 50bps cut since last November; the repo rate is now at 5.00%, and the discount rate stands at 5.25%. Following the CBJ's previous 50bps rate cut in March, we had called for further monetary easing through 2009,

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