Ammon News - The decision of the Open Operations Market Committee at the Central Bank of Jordan (CBJ) to raise interest rates by 25 basis points on all monetary policy tools came into force on Sunday.

The committee had affirmed the banks commitment to taking the necessary measures and procedures , as part of its mission to preserve the Kingdom's monetary stability and to preserve the gains achieved.

The committee stressed its confidence in the strength of the national economy and its ability to continue improving performance, noting that the national economy grew in the first quarter of this year at a rate of 2.8 percent, as inflation was kept under control at about 3 percent during the first half of this year.

Monetary and banking indicators continued their positive performance over the past year, reflecting confidence in the macroeconomic environment, the strength of the Jordanian banking system, and the control measures applied by the CBJ.