4 Gulf Banks Raise Interest Rates by 0.25%, Qatar Holds

The city of Riyadh (Asharq Al-Awsat)

The majority of central banks in the Gulf region raised the main interest rates on Thursday, following a decision by the US Federal Reserve to raise its key policy rate by 0.25%, in an effort to counter inflation.

Qatar kept the interest rate unchanged, while the Saudi Central Bank (SAMA), the Central Bank of the UAE, the Central Bank of Oman and the Central Bank of Bahrain announced in separate statements they would raise their rates by 0.25%.