Fed raises interest rates to 3.75%-4%: how the decision plays out in the Gulf, India, China, and Romania
Central banks in five Gulf states raised interest rates on the same day as the US Federal Reserve (Fed), the Indian rupee crossed the 96-per-dollar threshold, while China maintains its own monetary policy. This same Fed decision illustrates the extent to which individual nations can determine their own interest rates, exchange rates, and capital flows, and where US interest rates cease to dictate capital allocation.