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UAE Central Bank Follows Fed's Decision, Holds Interest Rates
(MENAFN- Khaleej Times)
The UAE Central Bank followed the Fed's decision to keep the base rate applicable to its overnight deposit facility at 4.4 per cent.
The UAE follows the US monetary policy as the dirham is pegged to the US dollar.
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Earlier, after three interest rate cuts in a row, the US Federal Reserve left its rates unchanged. The US central bank left its target range between 4.25 to 4.5 per cent.
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