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Central banks in Qatar, Oman, Bahrain, and the UAE raised key interest rates by 25 basis points in a coordinated move to support monetary stability.
We haven't written up this one. Ajel English has the full story — the link below goes straight to it.
Key PointsThe transaction involved ~114,900 shares executed at a weighted average price of $19.89 per share, totaling approximately $2.3 million.
The bank has raised its benchmark overnight interest rate by a quarter of a percentage point to the 3.75-4 per cent.
The move was widely expected amid persistently high inflation driven by the with Iran and rising oil prices – but the decision risks enraging the US president, who has demanded rates be lowered.
The Central Bank of the UAE on Wednesday raised its base rate for the Overnight Deposit Facility by 25 basis points to 3.9 per cent from 3.65 per cent.
The Central Bank of the UAE on Wednesday raised its base rate for the Overnight Deposit Facility by 25 basis points to 3.9 per cent from 3.65 per cent.
