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UAE central bank increases base rate by 25 basis points

It said that it has also decided to maintain the rate applicable to borrowing short-term liquidity



File
File

By Reuters

Published: Wed 16 Mar 2022, 11:38 PM

The United Arab Emirates central bank said on Wednesday that it was raising its base rate 25 basis points after the U.S. Federal Reserve Board's decision to raise rates by the same margin.

The UAE central bank said it has also decided to maintain the rate applicable to borrowing short-term liquidity from it through all standing credit facilities at 50 basis points above the Base Rate.

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