CBUAE Maintains Base Rate At 3.9%
The Central Bank of the UAE (CBUAE) has decided to maintain the Base Rate applicable to the Overnight Deposit Facility (ODF) at 3.9%. This decision followed the US Federal Reserve’s announcement to keep the Interest Rate on Reserve Balances (IORB) unchanged.
The CBUAE has also maintained the interest rate for borrowing short-term liquidity from the CBUAE at 50 basis points above the Base Rate for all standing credit facilities.
The Base Rate, tied to the US Federal Reserve’s IORB, reflects the general monetary policy stance and sets a floor for overnight money market interest rates in the UAE.
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