UAE Central Bank maintains Base Rate at 5.4%

The Central Bank of the UAE (CBUAE) has determined to keep up the Base Rate to the Overnight Deposit Facility (ODF) with out change at 5.40 per cent.

This is following the US Federal Reserve’s announcement on Wednesday to maintain the Interest on Reserve Balances (IORB), to which the bottom price is anchored, unchanged.

The Central Bank has additionally determined to keep up the rate of interest on borrowing short-term liquidity from the CBUAE at 50 foundation factors above the Base Rate for all standing credit score amenities.

The Base Rate indicators the overall stance of financial coverage and offers an efficient flooring for in a single day cash market rates of interest within the UAE.

The #CentralBankUAE has determined to keep up the Base Rate relevant to the Overnight Deposit Facility (ODF) with out change at 5.40%. pic.twitter.com/91O9sxn18C

— Central Bank of the UAE (@centralbankuae) December 13, 2023