Gulf Central Banks Follow Fed with Stable Rates

The article focused on the decision of the Gulf Central Banks, including those of the UAE, Bahrain, Qatar, Kuwait, and Saudi Arabia, to keep interest rates unchanged in their June meetings, similar to the US Federal Reserve's decision to hold interest rates within the range of 3.5% to 3.75%. This comes amidst ongoing geopolitical tensions, particularly the war between Washington and Iran, and the associated risks to oil and energy markets. Data shows an unexpected slowdown in inflation in the United States, with the Consumer Price Index decreasing by 0.4% month-over-month in June, leading central banks to maintain their current monetary policies.

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