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26 May 2024

GCC central banks raise interest rates by 25 basis points

Published
By WAM

The Central Bank of Saudi Arabia, the Central Bank of Bahrain and the Qatar Central Bank decided to raise interest rates by 25 basis points in line with the decision of the U.S. Federal Reserve.

The U.S. Central Bank's raised benchmark overnight interest rate to the 5.00 percent – 5.25 percent range, the tenth consecutive increase since March 2022.