UAE Central Bank raises base rate to 3.9% after US Fed rate hike
Dubai: The UAE Central Bank has raised its base rate by 25 basis points to 3.9%, following a similar increase by the US Federal Reserve . The Central Bank of the UAE said on Wednesday that the Base Rate applicable to its Overnight Deposit Facility will increase from 3.65% to 3.9%, effective Thursday, September 17. The decision follows the US Federal Reserve’s announcement on September 16 to raise…
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