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Jordan's central bank cuts benchmark interest rates by 25 bps

AMMAN, Oct 30 (Reuters) - The Central Bank of Jordan said on Wednesday that it was cutting benchmark interest rates by 25 basis points to 4 percent in a move to encourage local consumption and investment needed to spur growth, effective Oct. 31. The monetary authorities said in a statement the latest positive indicators in the balance of payments, exports, tourism receipts and continued inflows of remittances encouraged the move to lower borrowing costs. (Reporting by Suleiman Al-Khalidi; Editing by Sandra Maler)