CBUAE keeps interest rates unchanged at 4.4%

Thursday, 30 January 2025 10:17

By ARN News Staff

The Central Bank of the UAE (CBUAE) has maintained the Base Rate applicable to the Overnight Deposit Facility (ODF) at 4.40 per cent, following Wednesday's US Federal Reserve’s announcement to keep the Interest Rate on Reserve Balances (IORB) unchanged.

The CBUAE has also decided to maintain the interest rate applicable to borrowing short-term liquidity from the CBUAE at 50 basis points above the Base Rate for all standing credit facilities.

The Base Rate, which is anchored to the US Federal Reserve’s IORB, signals the general stance of monetary policy and provides an effective floor for overnight money market interest rates in the UAE.

More from Business

India caps duty-free gold imports for jewellery exporters to curb demand

India on Thursday tightened rules for duty-free gold imports for jewellery exports by capping imports at 100 kg per licence, the government said in an order.
Warsh wins confirmation as Fed chair, with inflation on the march

The US Senate on Wednesday voted to confirm Kevin Warsh as the chair of the Federal Reserve, paving the way for the lawyer, financier and former central-bank governor to take the reins of the Fed.
Dubai Taxi Company to acquire National Taxi

Dubai Taxi Company (DTC) has announced a major expansion deal, signing an agreement to acquire National Taxi, one of the UAE’s established taxi operators, in a transaction valued at AED 1.45 billion.
Dubai Holding becomes largest shareholder of Emaar Properties

Dubai Holding has acquired a 22.27 per cent equity stake in Emaar Properties from the Investment Corporation of Dubai (ICD), becoming the company's largest shareholder with a total 29.73 per cent stake.