GCC central banks follow Fed by reducing rates
Saudi Arabia, UAE and Bahrain opt for 25bp cuts, while Qatar loosens by 30bp
Gulf Arab states yesterday (November 7) followed the US Federal Reserve by reducing their key policy rates.
The Saudi Central Bank cut its repurchase agreement rate by 25 basis points to 5.25%. It lowered its reverse repo rate by the same amount, taking it to 4.75%. In an official statement, the bank said it had made the decision “in light of global developments” and in accordance with its objective of maintaining monetary stability.
The Central Bank of the United Arab Emirates reduced its
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