Abu Dhabi [UAE], The Central Bank of the UAE (CBUAE) has decided to maintain the base rate applicable on Overnight Deposit Facility (ODF) at 5.40 per cent.
The decision was taken after the US Federal Reserve today announced keeping the interest rate on reserve balances (IORB) unchanged.
CBUAE has also decided to maintain the interest rate applicable to borrowing short-term liquidity from CBUAE at 50 basis points above the base rate for all standing credit facilities.
The base rate, which is based on the US Federal Reserve's IORB, signals the general stance of monetary policy and provides an effective basis for overnight money market interest rates in the UAE.
The decision was taken after the US Federal Reserve today announced keeping the interest rate on reserve balances (IORB) unchanged.
CBUAE has also decided to maintain the interest rate applicable to borrowing short-term liquidity from CBUAE at 50 basis points above the base rate for all standing credit facilities.
The base rate, which is based on the US Federal Reserve's IORB, signals the general stance of monetary policy and provides an effective basis for overnight money market interest rates in the UAE.