UAE: CBUAE Keeps Base Rate Steady At 5.40 Percent
The Central Bank of the UAE (CBUAE) has opted to retain the Base Rate for the Overnight Deposit Facility (ODF) at 5.40 percent.
This decision aligns with the US Federal Reserve’s choice to maintain the Interest Rate on Reserve Balances (IORB). Additionally, the CBUAE has chosen to keep the interest rate for borrowing short-term liquidity from the CBUAE at 50 basis points above the Base Rate for all standing credit facilities.
The Base Rate, which is linked to the US Federal Reserve’s IORB, serves as an indicator of the general direction of monetary policy and establishes a minimum level for overnight money market interest rates in the UAE.
The Israeli Prime Minister’s Office has delayed Cabinet votes on the deal with Hamas amid…
The court directed that the records of the case, which are in Gujarati, be translated…
A melanistic Royal Bengal Tiger was poached in Similipal Tiger Reserve, one of the last…
More than 400 Washington Post journalists have raised alarm about the paper's leadership and future.…
In recent years, growing concerns have emerged about the impact of modern diets on children’s…
BCCI plans to overhaul the coaching staff, including a new batting coach, after India’s series…