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RIYADH: Despite the high interest rates that followed the US Federal Reserve’s recent quantitative tightening, the banking sector within the Gulf Cooperation Council exhibited continuous lending growth during the second quarter of 2023, as per findings from a Kamco Invest report.
The report attributed this sequential growth during the quarter to a robust projects market pipeline and government efforts to mitigate the impact of higher interest rates.
In response to persistent inflation in the US economy, the Federal Reserve…