Central Bank maintains 3.65% rate
The Central Bank of the United Arab Emirates has decided to maintain the overnight deposit rate at 3.65%, in line with the decision of the U.S. Federal Reserve to hold interest rates steady during its recent meeting. The Central Bank also reaffirmed its ongoing practice of setting the lending rate through credit facilities at 50 basis points above the base rate, aiming to preserve monetary stability and to establish the minimum interest rate in the local market.
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