By Jaidaa Taha and Menna AlaaElDin CAIRO (Reuters) -Gulf central banks cut their key interest rates on Wednesday after the Federal Reserve cut U.S. interest rates by 25 bps on Wednesday for the first time this year.

WITH ONE DISSENT, THE FED CUTS RATES AND LEAVES THE DOOR OPEN FOR MORE.

Chair Jerome Powell said in his comments starting at 2:30 p.m. Wednesday that the Fed remains "squarely focused" on balancing the risks to the economy from inflation and softening employment growth.