Central banks follow Fed with rate hikes

Federal-Reserve banknote

The Federal Reserve affects financial conditions around the world when it changes its interest rate. As well as impacting dollar financing conditions, it causes many central banks with pegs to the dollar to make similar moves.

The Federal Open Market Committee raised the US policy rate by 25 basis points, to a range of 0.25–0.5% on March 16.

The Saudi Central Bank subsequently raised its repo rate by 25bp to 1.25%. The central bank said the action would help in “maintaining monetary stability

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