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Gulf and Arab central banks lower interest rates on US Federal Reserve track



Gulf and Arab central banks lower interest rates on US Federal Reserve track

Reuters

Gulf and Arab central banks lower interest rates on US Federal Reserve track

Gulf and Arab central banks, the Central Bank of the United States Central Bank's interest rates to 1.50-1.75 percent target range by a quarter-point cut key interest rates lowered.

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Kuwait, Saudi Arabia, the United Arab Emirates and Bahrain, which fixed their currencies to the US dollar, also lowered interest rates at the same rate (0.25%).

The Central Bank of Jordan also lowered benchmark interest rates (0.25%) to 4%, saying the move aims to stimulate domestic consumption and investment needed to stimulate weak growth.

The US central bank lowered interest rates for the third time this year, taking action to protect the US economy from the flow of the global trade war and prevent recession, but signaled a possible halt in the monetary easing cycle.

Source: Reuters


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