The UAE's central bank has kept its Base Rate for the Overnight Deposit Facility (ODF) unchanged at 5.40 percent. It is closely tied to the US Federal Reserve's Interest on Reserve Balances (IORB), reflecting the general stance of the CBUAE's monetary policy. Qatar Central Bank too has maintained its current...
GCC central banks follow Fed in raising key rates
The decision by the central banks, in the US and most of the Middle East, to hike interest rates are designed to fight off inflationary pressures and maintain economic stability.
India central bank raises interest rate ahead of Fed announcement
India's central bank announced a surprise interest rate hike of 0.4 percentage points on Wednesday, as Asia's third-biggest economy reels from galloping inflation in the wake of the Ukraine war. In its first increase in borrowing costs since August 2018, Reserve Bank of India governor Shaktikanta Das said it would...Why GCC should heed Fed rate changes
Four Gulf Arab central banks followed in the footsteps of the US Federal Reserve and raised interest rates by a quarter percentage point for the first time since 2018.Saudi Central Bank hikes interest rates by 0.25 percentage points
The bank said the policy rate adjustments are consistent with its objectives of maintaining monetary stability.US Fed raises interest rate in battle against high inflation
Markets are expecting a total of seven rate hikes this year, and while the US Federal Reserve’s Open Market Committee typically moves in quarter-point steps, Fed Chair Jerome Powell has said it could be more aggressive if needed.
Saudi central bank to use Bloomberg for repo operations from January
Bloomberg's Auction System is a part of Bloomberg's enterprise solution for central banks and government financial agencies.
