Gulf banks raise interest rates in response to the Fed, Kuwait stays put

Saudi Arabia could be in store for a liquidity crunch, according to a leading credit rating agency. Kuwait has a history of not following the trend on interest rates.
Delegations attend the 46th ordinary session of the Council of Arab Central Banks and Monetary Authorities Governors, Jeddah, Saudi Arabia, Sept. 18, 2022.
Delegations attend the 46th ordinary session of the Council of Arab Central Banks and Monetary Authorities Governors, Jeddah, Saudi Arabia, Sept. 18, 2022. - -/AFP via Getty Images
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Adam Lucente
@Adam_Lucente

Several central banks in the Gulf raised interest rates last night. 

The central banks of Saudi Arabia, Bahrain and the United Arab Emirates raised their rates by 0.75%, mirroring the US Federal Reserve’s hike. Qatar raised its rates between 0.5% and 0.75%, according to Reuters. 

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