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.](/sites/default/files/styles/article_hero_medium/public/2022-11/GettyImages-1243325730.jpg?h=a5ae579a&itok=ixUVbMZg)
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.