CBUAE maintains base rate

UAE’s Central Bank (CBUAE) kept the Base Rate for the Overnight Deposit Facility steady at 4.40 per cent, mirroring the US Federal Reserve’s decision to maintain its Interest Rate on Reserve Balances.

The rate for borrowing short-term liquidity from the CBUAE also remains unchanged at 50 basis points above the Base Rate, reflecting the bank’s continued alignment with US monetary policy.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama