The United Arab Emirates (UAE) and Bahrain raised their key policy rates on Wednesday, following a 25 basis point (bps) increase in the US Federal Reserve rate.
The Central Bank of UAE also hiked repo rate by 25 basis points (bps) to 2.25 percent.
Meanwhile, Bahrain also raised its interest rate by 25 bps.
The Central Bank of Bahrain also decided to increase the overnight deposit rate to 2 percent from 1.75 percent, the one-week deposit rate to 2.25 percent from 2 percent, and the one-month deposit rate to 3 percent from 2.65 percent.
The lending rate was increased to 4 percent to 3.75 percent.
Meanwhile, Central Bank of Kuwait maintained its discount rate unchanged at 3 percent.
The US Federal Reserve lifted its key interest rate from 1.75 percent to 2 percent.
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