Business

UAE cenbank cuts base rate by 25 bps

The central bank of the United Arab Emirates cut its base rate applied to the overnight deposit facility by 25 basis points on Wednesday, from 4.65 per cent to 4.40 per cent, effective Dec. 19.

The move followed the Federal Reserve’s decision to cut US rates by 25 bps.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *