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Fed to the Rescue as Gulf Central Banks Get to Cut Rates at Last

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Fed to the Rescue as Gulf Central Banks Get to Cut Rates at Last
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More than four years after the oil-price crash, Gulf Arab policy makers can finally count on support from the Federal Reserve to add fuel to their fragile economic recovery.

Central banks in Saudi Arabia, the United Arab Emirates, Qatar and Bahrain cut their benchmark interest rates by 25 basis points following a similar decision by the Fed on Wednesday. Kuwait kept its discount rate unchanged at 3%.