Gulf central banks raise rates after Fed hike

Qatar, UAE and Bahrain make 75bp hikes, while Kuwait raises by 25bp and Saudi 50bp

Central Bank of Kuwait
Central Bank of Kuwait
Francisco Anzola

The central banks of five Persian Gulf states raised policy rates on June 15 following the Federal Reserve’s 75 basis point hike the same day.

The central banks of the United Arab Emirates, Qatar and Bahrain made 75bp increases to their reference rates. This brings the UAE’s rate to 3%, Qatar’s to 2.25% and Bahrain’s to 2.5%.

Four of the five peg their currencies to the US dollar, and their policy decisions tend to shadow those of the Federal Open Market Committee.

The Saudi central bank

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account