✉news BusinessBanking first seen 3 d ago, last 3 d ago, peak #32
GCC central banks hold rates after Fed keeps benchmark unchanged
Central banks across the Gulf Cooperation Council have kept their key interest rates unchanged, following the US Federal Reserve's decision to leave its benchmark rate steady. Because most Gulf currencies are pegged to the US dollar, monetary policy in Saudi Arabia, the UAE, Qatar, Kuwait and Bahrain typically moves in step with the Fed. Borrowers and businesses in the region now face stable financing costs for the time being.
Why now: The Federal Reserve's latest rate decision directly affects monetary policy across the dollar-pegged Gulf economies.
GCCUS Federal ReserveSaudi ArabiaUnited Arab EmiratesQatar
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