Explainer: Oman may follow as most Gulf central banks raise rates
Inflation in the Gulf has not been as severe as in other parts of the region.
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In response to the US Federal Reserve raising interest rates, most central banks in the Gulf followed suit Wednesday.
The Fed raised its interest rates by 0.5% — the largest hike in more than 20 years — to 0.75%. The move was a response to rising inflation in the United States. Here’s how Gulf monetary institutions responded, and what it means.