CBUAE lowers interest rates by 25 basis points

ABU DHABI, 18th December, 2024 (WAM) -- The Central Bank of the UAE (CBUAE) has decided to cut the Base Rate applicable to the Overnight Deposit Facility (ODF) by 25 basis points, from 4.65% to 4.40%, effective from Thursday, 19 December.

This decision was taken following the US Federal Reserve's announcement today to reduce the Interest Rate on Reserve Balances (IORB) by 25 basis points.

The CBUAE has also