GCC central banks cut rates

A number of central banks across the GCC have cut interest rates in a bid to maintain currency stability and to encourage greater investment. The central banks of UAE, Saudi Arabia and Bahrain have all cut their interest rates by 0.25%. The moves followed the decision of the US Federal Reserve to reduce its interest rates for the third time this year amid slowing economic growth. The currencies of the UAE, Saudi Arabia and Bahrain are all pegged to the US dollar so their respective central banks tend to follow US Federal Reserve monetary policy. The rate cuts are expected to reduce borrowing costs and therefore increase investor demand for funds. ©2019 funds global mena

Executive Interviews

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