Gulf central banks raise interest rates after US Federal Reserve decision
Gulf central banks also held firm in June when the Fed paused its rate hikes.
Gulf central banks raised interest rates on Wednesday, mirroring the US Federal Reserve.
The Saudi Central Bank raised its key rates by 0.25%, citing "monetary stability." The repo and reverse rates are now 6% and 5.5%, respectively, according to a press release.
The Qatar Central Bank raised its three rates by 0.25%. The deposit interest rate is now 5.75%, the lending interest rate is 6.25% and the repo rate is 6%, per a press release.
The Central Bank of the United Arab Emirates raised its key rate by 0.25% to 5.4%, citing the Federal Reserve's decision, the bank said in a press release.
