Gulf central banks raise interest rates after the decision of the “US Reserve”

Gulf central banks announced raising interest rates in line with the decision of the US Federal Reserve, where the Qatar Central Bank raised the repurchase rate (repo) by 75 basis points, the deposit interest rate by 75 basis points, and the lending interest rate by 50 basis points.

The US Federal Reserve announced on Wednesday that it raised the interest rate by 75 basis points to the range of 3.75% – 4%, which is the fourth increase with the same ability in a row, and also hinted at a change in its monetary policy to curb inflation, as part of its ongoing efforts to combat the worst rise in inflation since 40 years old.

The Central Bank of Bahrain said on Wednesday that it raised the main interest rate on one-week deposits by 75 basis points to 4.75 percent, following the example of the US Central Bank due to the Bahraini dinar’s peg to the dollar.

The Central Bank of Bahrain also raised the overnight deposit rate 75 basis points to 4.5 percent, the four-week deposit rate to 5.5 percent, and the lending rate to 6 percent.

The Saudi Central Bank also raised the repo interest rate by 75 basis points, and the reverse repo interest rate by 75 basis points.