The central bank's decision to enact its ninth-straight rate cut brings the key rate down 50 basis points to 8.25%.
The sanctions represent the latest move in the Trump administration's maximum pressure campaign against Tehran.
Authorities around the world are on the alert for a second wave of the outbreak as various economies restart.
CNBC's Hadley Gamble talks to U.S. Special Representative for Iran Brian Hook about the U.S. commitment to Gulf allies' security.
State television described the missile strike as an accident, saying the ship had remained too close to the target.
Washington's commitment to the security of its Gulf allies is unchanged despite what appears to be a shift in force posture in the region, U.S. Special Representative for Iran Brian Hook told CNBC.
The coronavirus outbreak in the Middle East is likely to remain under control despite the easing of restrictions in recent weeks, as long as strict social distancing continues to be enforced, experts told CNBC.
The global pandemic would have been more difficult for Egypt if not for comprehensive reforms on taxes, budgets and foreign exchange that the country undertook, said Rania al-Mashat, minister for international cooperation.
More than 251,000 people around the world have died from Covid-19 and over 3.5 million people have been infected, according to data from Johns Hopkins University.
The fight against the coronavirus pandemic is as much about dispelling fake news and debunking conspiracy theories, as it is a global health crisis.
U.S. officials have long feared that Iran's pursuit of developing satellite technology is a cover for ballistic missile activity.
President Trump warned that the United States would destroy Iranian gunboats that harass American ships at sea.
Countries such as China, Iran and Iraq rank low on the list in part due to their handling of the media during the pandemic, according to the World Press Freedom Index published Tuesday.
The U.S. military said on Wednesday that 11 vessels from the Revolutionary Guards navy had come dangerously close to U.S. Navy and Coast Guard ships in the Gulf.
Covid-19 has infected more than 2.3 million around the world as of Saturday, killing at least 158,600 people.
Russian President Vladimir Putin and his administration are using the coronavirus crisis to spread conspiracy theories in a bid to "subvert the West," a new report has alleged.
CNBC's Brian Sullivan reports on oil companies filing for bankruptcy.
There are more than 930,000 reported cases of COVID-19 globally, with over 47,000 deaths, data compiled by Johns Hopkins University showed.
The U.S. argues that its "maximum pressure" campaign against Iran does not stop the flow of humanitarian goods.
As of Tuesday, more than 190,000 cases of coronavirus have been reported across the globe, resulting in at least 7,890 deaths.
Data also provided by 
