UAE central bank cuts interest rates by 25 bps

Parvez Jabri August 1, 2019

DUBAI: The United Arab Emirates central bank said on Wednesday that it was cutting interest rates applied on the issuance of certificates of deposits starting from August 1, in line with the US Federal Reserve’s decision to cut rates by 25 basis points.

The UAE central bank said in a statement its repo rate for borrowing short-term liquidity had also been cut by 25 bps, effective from Thursday.

Copyright Reuters, 2019

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