Central banks in the Gulf Cooperation Council region have kept their interest rates unchanged, following the decision by the US Federal Reserve to maintain its benchmark level at 5.4 percent, the highest in 22 years.
As most Gulf currencies are pegged to the US dollar, monetary policy aligns with decisions made in Washington. The US policymakers have chosen to maintain the rate for the third consecutive time at the level set in July, according to a statement from the Federal Reserve.
Read More : GCC Central Banks Align with Fed, Maintain Unchanged Interest Rates