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.
GIUSEPPE CACACE/AFP via Getty Images
A man watches stock movements on a display at the Dubai Financial Market stock exchange in the Gulf emirate on April 12, 2022. - GIUSEPPE CACACE/AFP via Getty Images
Adam Lucente headshot (new)
Adam Lucente
@Adam_Lucente

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.

Access the Middle East news and analysis you can trust

Join our community of Middle East readers to experience all of Al-Monitor, including 24/7 news, analyses, memos, reports and newsletters.

Subscribe

Only $100 per year.

Videos

See more