Live Updates > Live Update Details
2026-09-17 02:24:10
Following the US Federal Reserve's announcement of its first interest rate hike in over three years, on the night of September 16th local time, the central banks of several Gulf countries, including Saudi Arabia, the United Arab Emirates, Qatar, Bahrain, and Oman, successively announced increases in their benchmark interest rates by 25 basis points. This follow-up interest rate hike is a typical example of the linkage between the monetary policies of Gulf economies and the Federal Reserve. Since the currencies of most Gulf countries are directly pegged to the US dollar, in order to maintain exchange rate stability and ensure smooth cross-border capital flows, these countries often adjust their own interest rates in sync with the Federal Reserve's rate adjustments.
