Malik: Reduced Borrowing Costs Positive for Gulf
Gulf states have cut their interest rates after the Fed's first rate cut this year, to maintain their currencies' peg to the US dollar.
Gulf states have cut their interest rates after the Fed's first rate cut this year, to maintain their currencies' peg to the US dollar. Monica Malik, Chief Economist at Abu Dhabi Commercial Bank told Bloomberg’s Horizons Middle East anchor Joumanna Bercetche about the regional reaction to the Fed announcement. (Source: Bloomberg)