ADD ANI AS A TRUSTED SOURCE
googleads
Menu
Middle East

UAE: Central Bank raises base rate by 25 basis points

The Central Bank of the UAE (CBUAE) has decided to raise the Base Rate applicable to the Overnight Deposit Facility (ODF) by 25 basis points – from 5.15 to 5.40 per cent, effective from Thursday, 27th July 2023.

ANI Jul 27, 2023 08:01 IST googleads

Representative Image

Abu Dhabi [UAE], July 27 (ANI/WAM): The Central Bank of the UAE (CBUAE) has decided to raise the Base Rate applicable to the Overnight Deposit Facility (ODF) by 25 basis points – from 5.15 to 5.40 per cent, effective from Thursday.
This decision was taken following the US Federal Reserve Board’s announcement on 26th July 2023, to increase the Interest on Reserve Balances (IORB) by 25 basis points.
The CBUAE also has decided to maintain the rate applicable to borrowing short-term liquidity from the CBUAE through all standing credit facilities at 50 basis points above the Base Rate.
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. (ANI/WAM)

Get the App

What to Read Next

US

Trump describes Michigan synagogue attack as "terrible"

Trump describes Michigan synagogue attack as

Speaking at a Women's History Month event at the White House, the US president said he had been fully briefed on the situation and described the incident as "terrible."

Read More
US

FBI Director Kash Patel on Michigan Synagogue incident

FBI Director Kash Patel on Michigan Synagogue incident

"FBI personnel are on the scene with partners in Michigan and responding to the apparent vehicle ramming and active shooter situation out of Temple Israel Synagogue in West Bloomfield Township, Michigan. @FBIDetroit," Patel posted on X, adding that the bureau's FBI Detroit Field Office was involved in the response.

Read More
US

"FBI personnel assisting local authorities": Kash Patel

In a post on X, Patel said, "FBI personnel are providing assistance and working with local authorities responding to the shooting at Old Dominion University. We will update as able."

Read More
Asia

PM Modi speaks to Iranian President Pezeshkian

PM Modi speaks to Iranian President Pezeshkian

"Had a conversation with Iranian President, Dr. Masoud Pezeshkian, to discuss the serious situation in the region. Expressed deep concern over the escalation of tensions and the loss of civilian lives as well as damage to civilian infrastructure," PM Modi posted on X.

Read More
Asia

MoCA closely monitoring air travel situation in West Asia

MoCA closely monitoring air travel situation in West Asia

The Ministry of Civil Aviation is closely monitoring the evolving situation in the West Asia region and its impact on air travel between India and countries in the region. Airlines are undertaking necessary operational adjustments in view of the prevailing conditions to ensure passenger safety and the orderly conduct of flight operations.

Read More
Home About Us Our Products Advertise Contact Us Terms & Condition Privacy Policy

Copyright © aninews.in | All Rights Reserved.