Gulf Central Banks Align With U.S. Fed In Coordinated Rate Cuts
Date
12/26/2024 4:52:53 AM
(MENAFN- The Arabian Post) Central banks across the Gulf Cooperation Council (GCC) have reduced key interest rates, mirroring the U.S. federal Reserve's decision to lower its benchmark rate by 25 basis points (bps). This synchronized monetary policy adjustment underscores the region's commitment to maintaining currency pegs to the U.S. dollar and supporting economic stability. The Federal Reserve decreased the federal funds target rate range to 4.25%–4.5%, signaling a cautious approach to [...]">
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