UAE Central Bank maintains Base Rate at 5.40% in line with US Federal Reserve's unchanged IORB due to insufficient inflation progress.
The UAE Central Bank (CBUAE) maintained its Base Rate at 5.40% in line with the US Federal Reserve's unchanged Interest Rate on Reserve Balances (IORB). CBUAE also decided to keep the interest rate for borrowing short-term liquidity at 50 basis points above the Base Rate for all standing credit facilities. Both decisions were made due to insufficient progress towards the 2% inflation target.
May 01, 2024
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