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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Gulf central banks follow the Federal Reserve and cut interest rates

    Rocky
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    Gulf central banks follow the Federal Reserve and cut interest rates Empty Gulf central banks follow the Federal Reserve and cut interest rates

    Post by Rocky Fri 08 Nov 2024, 4:41 am

    Gulf central banks follow the Federal Reserve and cut interest rates

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    Economy News - Follow-up
    [rtl]Gulf central banks cut interest rates by 25-30 basis points, in line with the moves of the US Federal Reserve.[/rtl]
    [rtl]The Federal Reserve (US central bank) cut interest rates for the second time in a row in 2024, by 25 basis points, to a range of 4.5% to 4.75%, in line with expectations.[/rtl]
    [rtl]The Fed’s approval reflects a less aggressive move than before but a continuation of its efforts to adjust monetary policy. It also comes after Donald Trump’s victory in the presidential election.[/rtl]
    [rtl]"Labor market conditions are improving," the Fed's Monetary Policy Committee said in a statement at the end of a meeting that began Wednesday morning, and while "inflation has made progress toward its 2% target, it remains elevated," according to a report published by CNBC.[/rtl]
    [rtl]The Saudi Central Bank approved reducing the reverse repurchase agreement (reverse repo) rate by 25 basis points.[/rtl]
    [rtl]The Central Bank of the UAE announced a 25-point reduction in the basic interest rate.[/rtl]
    [rtl]The Central Bank of Bahrain decided to reduce the overnight interest rate by 25 basis points.[/rtl]
    [rtl]Qatar Central Bank also announced a 30 basis point reduction in the deposit interest rate.[/rtl]
    [rtl]Qatar Central Bank cut the repurchase rate by 30 basis points and the lending rate by 30 basis points.[/rtl]


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