UAE apex bank head says Gulf states may cut rates

NEW YORK — Sultan bin Nasser Al Suwaidi, the United Arab Emirates central bank governor, expects all six Arabian Gulf states represented by the Gulf Cooperation Council to cut interest rates "shortly," a media report said.

By (Bloomberg)

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Published: Sun 30 Sep 2007, 8:33 AM

Last updated: Sat 4 Apr 2015, 11:45 PM

Al Suwaidi said cutting rates is essential to maintain economic balance and he didn't rule out further cuts in the U.A.E., a newspaper said, citing an interview in a sister publication.

The central bank governor said that Arabian Gulf leaders may one day de-peg their currencies if they suffered "heavy financial losses,'' the report said.



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