The Open Market Operations Committee of the Central Bank of Jordan (CBJ) on Thursday decided to keep interest rates on monetary policy instruments unchanged. The CBJ emphasized its close monitoring of developments related to the performance of the national economy, particularly monetary and banking indicators, as well as global economic developments and monetary policy trends in central banks, both internationally and regionally, to counter inflationary pressures and geopolitical developments in the region. The committee underlined its confidence in the national economy’s performance as shown by the latest available economic data, citing that the CBJ’s foreign reserves have reached $17.5 billion at the end of October, which is sufficient to cover the Kingdom’s imports of goods and services for 7.8 months. The committee also referred to the increase in bank deposits (year-on-year) by JD1.5 billion in September, with a growth of 3.5 per cent to JD43.3 billion.

Source: Jordan News Agency