Saudi Arabia, Qatar, Bahrain raise interest rates, mirroring Federal Reserve

The US Federal Reserve raised rates by 0.25% on Wednesday, despite concerns about the effect on the global financial climate.
Saudi central bank
Participants in the 46th ordinary session of the Council of Arab Central Banks and Monetary Authorities Governors pose for a group picture in Saudi Arabia's Red Sea city of Jeddah, on Sept. 18, 2022. - AFP via Getty Images
Al Monitor: The Pulse of the Middle East
Al-Monitor Staff

The central banks of Saudi Arabia, Qatar and Bahrain raised their key policy rates by 0.25% on Wednesday. 

The move followed the US Federal Reserve raising interest rates by the same percentage earlier in the day as it continues to fight inflation. 

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