Kuwait breaks pattern by holding rates after Fed hike
Five other Gulf states, including Saudi Arabia and UAE, raised policy rates to match Fed
The Central Bank of Kuwait held its policy rate at 3% on November 2, breaking its pattern of hiking in lockstep with the Federal Reserve. The Kuwaiti authorities had raised rates by 25 basis points after each of the last six Federal Open Market Committee meetings.
Five central banks in the Arabian Peninsula raised their policy rates by 75bp in line with the Federal Reserve on November 2. Saudi Arabia, Bahrain, Oman and Qatar now have policy rates at 4.5%, while that of the United Arab Emirates
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