MIDEAST STOCKS-Gulf shares dip as Fed hints no further rate cuts - Reuters:
Major Gulf stock markets fell on Thursday after the U.S.
Federal Reserve cut interest rates by 25 basis points but, significantly,
signalled the move may not mark the beginning of a long easing cycle.
Markets had been looking for the Fed to signal more cuts were coming.
Central banks in Saudi Arabia, the United Arab Emirates and Qatar followed
the move, cutting their rates by the same degree. Their currencies are pegged to
the U.S. dollar and they follow the Fed on interest rate moves.
Banking shares were hard hit as the rate cuts are expected to take a toll on
their margins.
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