UAE Central Bank holds benchmark rate, following US Fed move
The UAE decided to hold its benchmark interest rate on Wednesday, following a similar move by the US Federal Reserve.In a statement, the Central Bank of the UAE said that it has decided to hold the base rate applicable to the Overnight Deposit Facility (ODF) at 3.65 per cent, the same as last month.The UAE follows US monetary policy as the UAE dirham is pegged to the US dollar. The rate was lowered by 25 basis points in December.'Meaningful savings': UAE loan costs to drop after Central Bank cuts interest rates UAE Central Bank lowers key benchmark rate to 3.90%UAE consumers to enjoy lower borrowing costs as rates cut to 3.9%
The UAE decided to hold its benchmark interest rate on Wednesday, following a similar move by the US Federal Reserve.
In a statement, the Central Bank of the UAE said that it has decided to hold the base rate applicable to the Overnight Deposit Facility (ODF) at 3.65 per cent, the same as last month.
The UAE follows US monetary policy as the UAE dirham is pegged to the US dollar. The rate was lowered by 25 basis points in December.
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