Bahrain's central bank lowered key interest rates on Tuesday, its first rate move since a December cut, to smooth money market operations and in a bid to underpin growth. The country has been keen to kickstart lending and drive an economic recovery as the financial crisis and lower oil prices dampened growth. The central bank cut its one-week deposit facility to 0.50 percent from 0.75 percent but kept its overnight deposit facility at 0.25 percent. In addition, it lowered its repo and lending rates to 2.25 percent from 2.75 percent. It was the first move by the bank since December when it cut key interest rates in the wake of a US Federal Reserve cut.
