Gulf central banks increase rates in line with Fed
Five banks raise rates 75bp, while Kuwait orders 25bp increase due to different currency peg
Six central banks in the Persian Gulf region raised their policy rates on July 27, following the US’s 75 basis point increase that day.
Five of them – Bahrain, Oman, Qatar, Saudi Arabia and the United Arab Emirates – followed the Fed in increasing their rates by 75bp.
The exception was Kuwait, the only country of the six-member Gulf Co-operation Council that does not peg its currency directly to the US dollar. Kuwait ties its currency to an undisclosed basket of currencies, meaning it does not
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 info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Monetary policy decisions
Bank of Canada holds rates
Governor stresses difficulty in being forward looking amid current uncertainty over US tariffs
Colombia holds rates amid government pressure for cuts
Banrep board divided after three new members join; country’s president says decision “unacceptable”
Mexico’s central bank cuts rates by 50bp
Economist says last month’s uptick in inflation means Banxico should have held
Bank of Canada opts for another 50bp cut
Governor says Trump tariffs would be “highly disruptive” if implemented as proposed
Fed makes post-presidential election rate cut
Chair Powell stresses Trump’s election will have no effect on near-term policy; has no plans to resign
BoJ holds policy rate
Central bank highlights need to monitor US economic developments and domestic data
BoE keeps policy rate and pace of QT unchanged
Policy-makers back “gradual approach” to lowering interest rates
Banxico cuts rates by 25bp in split decision
MPC says core inflation has been gradually falling, despite rise in headline figure