World

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.

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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.

Drishya Madhur

I bring my expertise and enthusiasm to my role as a sub-editor at The Daily Guardian, where I contribute to creating meaningful and thought-provoking content daily. With a background in Journalism and Mass Communication, I have dedicated the last three years to honing my craft as a content writer. Over this time, I have gained extensive experience in News Writing, Blog Writing, Article Writing, and Content Writing, showcasing my ability to adapt my writing style to diverse platforms and audiences. My journey in the dynamic world of media has not only sharpened my storytelling abilities but also deepened my understanding of how impactful communication can shape perspectives.