Publish dateThursday 1 August 2024 - 15:39
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Economy
Story Code : 1147

CBUAE keeps the base rate constant

The Central Bank of the United Arab Emirates (CBUAE) has announced that the bank will maintain the base rate applicable to the overnight deposit facility (ODF) at 5.40 percent.
photo: wam
photo: wam
According to Amac News: CBUAE said that it took this decision after the US Federal Reserve announced that it would keep the interest rate on IORB reserves unchanged.
CBUAE added that it will maintain the interest rate applicable for borrowing short-term liquidity from CBUAE at 50 basis points above the base rate for all fixed credit facilities.
The base rate, which is linked to the US Federal Reserve's IORB, reflects the overall stance of monetary policy and provides an effective floor for overnight money market interest rates in the UAE.
 
https://amacnews.com/vdcg.t9qrak9quj54a.html
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The Central Bank of the United Arab Emirates (CBUAE) The CBUAE base rate constant
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