CBUAE maintains base rate

The Central Bank of the UAE (CBUAE) maintained the Base Rate on the Overnight Deposit Facility (ODF) at 4.40 per cent, following the US Federal Reserve’s decision to keep the Interest Rate on Reserve Balances (IORB) unchanged.

The CBUAE also confirmed that the interest rate for borrowing short-term liquidity through its standing credit facilities will remain 50 basis points above the Base Rate.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama