The US Federal Reserve kept its benchmark interest rate unchanged on Wednesday, maintaining the federal funds rate at 4.25 to 4.5 per cent
The decision follows the US Fed’s latest move to hold rates steady, signalling a cautious approach toward further tightening amid evolving economic conditions
The US Federal Reserve raised its benchmark interest rates by 25 points to the highest level in 22 years
The central banks of Saudi Arabia and Bahrain also increased their interest rates after the US Federal Reserve raised its target interest rate
The base rate suggests the general stance of the Central Bank’s monetary policy
The facility is a first step towards implementing the new Dirham Monetary Framework announced earlier this year