UPDATE 1-Kuwait central bank keeps rates on hold after Fed hike | Reuters:
Kuwait’s central bank decided to keep its key discount rate unchanged at 3.0 percent, it said on Wednesday.
The decision followed the announcement of a 25 basis point interest rate hike by the U.S. Federal Reserve.
In contrast to the other rich Gulf Arab oil exporting states, which peg their currencies to the U.S. dollar and have little room for an independent monetary policy, Kuwait manages its dinar against an undisclosed basket of currencies in which the dollar plays a major role.
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