The Central Bank of the UAE (CBUAE) has maintained the Base Rate applicable to the Overnight Deposit Facility (ODF) at 5.40 per cent.
This decision follows the US Federal Reserve’s announcement on Wednesday to keep the Interest on Reserve Balances (IORB) unchanged.
The CBUAE has also maintained the interest rate applicable to borrowing short-term liquidity from the CBUAE at 50 basis points above the Base Rate for all standing credit facilities.
The Base Rate, which is anchored to the US Federal Reserve’s IORB, signals the general stance of monetary policy and provides an effective floor for overnight money market interest rates in the UAE.
CBUAE maintains Base Rate at 5.40%#WamNews https://t.co/YOnQVT4J2y pic.twitter.com/uJFs3MkTxe
— WAM English (@WAMNEWS_ENG) March 20, 2024
'Economic Content Creators’ programme caps first week
DEWA SAT-1 sends 2,690 MB of data related to its work to ground station
Novo's next-gen obesity drug candidate trial disappoints
Amazon workers to strike at US warehouses during busy holiday season
