(MENAFN- Famagusta Gazette) The Central Bank of the United Arab Emirates (UAE) decided on Wednesday to raise the base interest rate by 25 basis points to 5.40 percent, effective Thursday, the state news agency WAM reported. The decision was taken after the U.S. Federal Reserve raised its key interest rate by 25 basis points to a range of 5.25-5.5 percent.
The rate on borrowing short-term liquidity from the central bank through all standing credit facilities remains unchanged at 50 basis points above the base rate, said WAM.
Author famagusta gazette
MENAFN31072023006374013804ID1106756908
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.