©KunaCBK downs discount rate to 4.25 pct as of ThursdayKUWAIT, December 19 (KUNA) -- The Central Bank of the State of Kuwait Thursday brought down the discount rate from 4.5 to 4.25 percent as of today, the CBK governor told KUNA.Sheikh Salem Abdelaziz Al-Sabah said the board`s decision came in view of close follow up of local and international monetary, financial, and banking conditions.This is an effort to boost trust in the national economy and to boost the role of the banking system in serving the financing needs of the local economy`s sectors, he said.-- The governor added the bank is closely watching developments and "would not hesitate to take all due measures and precautions to guarantee stability of the national economy and the integrity of the local banking system." The discount rate is a focal price that determines maximums of local interest margins on lendings in the Kuwaiti currency.This means that a discount rate cut translates into a down in maximum interest rates locally by the same amount among local banking and monetary units.