The Central Bank of the UAE (CBUAE) has decided to maintain the Base Rate to the Overnight Deposit Facility (ODF) without change at 5.40 per cent.
This is following the US Federal Reserve’s announcement on Wednesday to keep the Interest on Reserve Balances (IORB), to which the base rate is anchored, unchanged.
The Central Bank has also decided to maintain the interest rate on borrowing short-term liquidity from the CBUAE at 50 basis points above the Base Rate for all standing credit facilities.
The Base Rate signals the general stance of monetary policy and provides an effective floor for overnight money market interest rates in the UAE.
The #CentralBankUAE has decided to maintain the Base Rate applicable to the Overnight Deposit Facility (ODF) without change at 5.40%. pic.twitter.com/91O9sxn18C
— Central Bank of the UAE (@centralbankuae) December 13, 2023
Indian state shuts some Domino's, Pizza Hut outlets, citing hygiene lapses
ADNOC's XRG advances global gas strategy with Venezuela entry
Iger, Kushner purchasing Lakers for record $12.5 billion
Chair of India's Tata to step down after tension with controlling charity
Emirates offers flyers to Dubai unlimited free date changes
