Middle Eastern Central Banks Hold Rates Following US Federal Reserve Decision

The Central Bank of Bahrain maintained its overnight deposit interest rate at 4.5% after the US Federal Reserve kept the Interest Rate on Reserve Balances unchanged. The Qatar Central Bank also kept its deposit, lending, and repurchase rates unchanged following its assessment. These decisions came as major stock indices climbed globally after the Federal Reserve's move.

The regional central banks' decision to anchor rates in response to the US Federal Reserve's policy contributed to gains in major stock markets, including the S&P 500 and the Nasdaq Composite. The Central Bank of Bahrain stated its action was part of maintaining monetary and financial stability amid global financial market changes.