Ammon News - The Central Bank of Jordan (CBJ) has maintained interest rates across its monetary policy instruments, reflecting confidence in the Kingdom's economic stability amid favorable financial indicators.

Foreign reserves have reached a robust $21 billion as of February, underpinning the nation's monetary stability framework. Inflation remains well-anchored at 2.2 percent for the first two months of 2025, with projections indicating continued stability that preserves purchasing power and enhances economic competitiveness.

The bank's Open Market Operations Committee, during its second meeting this year, conducted a comprehensive assessment of domestic, regional, and global economic conditions before reaching its decision to hold rates steady.

Banking sector metrics signal growing market confidence, with customer deposits expanding 6.8 percent year-on-year to JD47 billion through January, while credit facilities advanced 4.8 percent to JD35.1 billion – developments that highlight the financial sector's vital contribution to economic activity and investment financing.

External sector performance continues its positive trajectory, with tourism receipts surging 16.3 percent to $1.3 billion in January-February compared to the same period last year, signaling meaningful recovery in this strategic sector. Expatriate remittances increased 1.2 percent in January to $320 million.

The Kingdom's exports grew 5.8 percent in 2024, reaching $13.3 billion, while foreign direct investment inflows are estimated at $1.6 billion for the year – a testament to investor confidence in Jordan's business environment.

GDP expanded by 2.4 percent during the first three quarters of 2024, with projections suggesting acceleration to 2.7 percent in 2025, driven by strengthening domestic and external demand across economic sectors.

The CBJ reaffirmed its vigilant approach to monitoring economic developments and implementing necessary measures to maintain monetary and financial stability. Petra