GCC central banks hold rates after Fed keeps benchmark unchanged

Arab News ·
Economy Central Banks United Arab Emirates
Saudi Arabia

RIYADH: Central banks in the UAE, Qatar and Bahrain have kept interest rates unchanged, following the US Federal Reserve’s decision to hold its benchmark rate steady. The Fed’s rate-setting committee voted 10-2 to keep its benchmark rate in the 3.75 to 4 percent range. Gulf central banks tend to move in step with Washington because most regional currencies are pegged to the US dollar. “The…

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