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US banks reaped USD 1 tn in windalls from high interest rate environment
Banks are expected to pass some of the recent half-percentage-point rate cuts onto depositors
Japan’s SBI Holdings, former US Fed official buy into Gateway partners
Gateway will launch more funds next year
Investors weigh up the rationale behind the Fed’s rate cut
The rate cut is feared to have been a late move by the Fed to maintain growth momentum
CBUAE follows Fed’s lead with first rate cut in years
The news is welcome for GCC countries considering the weakened outlook for oil
USD drops 2% in August as JPY, EUR, and GBP gain steam
The weaker USD positioned the EUR and GBP as the top-performing major currencies year-to-date
Foot-dragging by the Fed on rate cuts is good news for GCC banks –S&P Global
Cutting rates by 100 bps trims rated Gulf banks’ net income by c. 9%, according to S&P Global
CBUAE keeps interest rates unchanged
Federal Reserve Chair Jerome Powel said that the US’ tightening of rates is likely to let up soon
Analysts and Wall Street can’t seem to agree
The Federal Reserve won’t start cutting interest rates until at least July 2024, a Financial Times poll showed, with nearly…
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