The National on Nostr: Gulf countries poised to enter era of interest rate cuts after Fed decision ...
Gulf countries poised to enter era of interest rate cuts after Fed decision
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Gulf states expected to begin monetary easing cycle on September 18, 2024; Fed likely to cut interest rates by 25 basis points from current range of 5.25 to 5.50 percent; Gulf central banks have followed Fed's lead since 2022; Saudi Arabia's repo rate at 6 percent, UAE and Qatar at 5.4 percent and 6 percent respectively; Gulf economies sensitive to Fed's actions due to dollar peg; Opec extended oil production cuts of 2.2 million barrels per day through November 2025; S&P Global predicts Fed to cut rates by 150 basis points until end of 2025, potentially reducing bank profits by 12 percent; Gulf banks reported 10.4 percent annualized lending growth in H1 2024; Brad Jensen and Sebnem Kalemli-Ozcam provide insights on economic impacts.
#Gulf #InterestRates #FederalReserve #Opec #Economy #Banks #OilPrices #MonetaryPolicy #SaudiArabia #Uae
https://www.thenationalnews.com/business/economy/2024/09/17/gulf-interest-rate-cuts-fed/
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Gulf states expected to begin monetary easing cycle on September 18, 2024; Fed likely to cut interest rates by 25 basis points from current range of 5.25 to 5.50 percent; Gulf central banks have followed Fed's lead since 2022; Saudi Arabia's repo rate at 6 percent, UAE and Qatar at 5.4 percent and 6 percent respectively; Gulf economies sensitive to Fed's actions due to dollar peg; Opec extended oil production cuts of 2.2 million barrels per day through November 2025; S&P Global predicts Fed to cut rates by 150 basis points until end of 2025, potentially reducing bank profits by 12 percent; Gulf banks reported 10.4 percent annualized lending growth in H1 2024; Brad Jensen and Sebnem Kalemli-Ozcam provide insights on economic impacts.
#Gulf #InterestRates #FederalReserve #Opec #Economy #Banks #OilPrices #MonetaryPolicy #SaudiArabia #Uae
https://www.thenationalnews.com/business/economy/2024/09/17/gulf-interest-rate-cuts-fed/