GCC Central Banks Follow Federal Reserve’s Lead on Rate Rises
Posted on 07/28/2022
The Federal Open Market Committee (FOMC) hiked its key interest rates by 75 basis points on July 27, 2022 to fight soaring inflation – a number of GCC economies followed suit. Most central banks in the GCC followed the Federal Reserve’s policy rate moves due to their currencies being pegged to the U.S. dollar. For…
