CBUAE Maintains Base Rate At 5.40%
Faizan Hashmi Published September 20, 2023 | 11:45 PM
(UrduPoint / Pakistan Point News / WAM - 20th Sep, 2023) ABU DHABI, 20th September, 2023 (WAM) – The Central Bank of the UAE (CBUAE) has decided to maintain the Base Rate applicable to the Overnight Deposit Facility (ODF) without change at 5.40%, effective from Thursday, 21 September 2023.
The Base Rate, which is anchored to the US Federal Reserve’s IORB, signals the general stance of the CBUAE’s monetary policy. It also provides an effective interest rate floor for overnight money market rates in the UAE.