The Central Bank of the United Arab Emirates (CBUAE) has announced that it will reduce the interest rate applicable to the Overnight Deposit Facility (ODF) by 25 basis points (from 4.65% to 4.40%). The decision will be effective from Thursday, December 19, according to the announcement.

The Central Arab Bank (CBUA) has announced that it will keep the Arab Central Bank (ODF) at 5.40 percent.