BR100 3,788 Decreased By ▼ -12 (-0.31%)
BR30 19,397 Decreased By ▼ -41 (-0.21%)
KSE100 36,659 Decreased By ▼ -86 (-0.23%)
KSE30 15,886 Decreased By ▼ -42 (-0.26%)
COVID-19 TOTAL DAILY
CASES 255,769 2165
DEATHS 5,386 66
Sindh 107,773 Cases
Punjab 88,045 Cases
Balochistan 11,239 Cases
Islamabad 14,315 Cases
KP 31,001 Cases
Business

UAE central bank cuts interest rates by 25 bps

DUBAI: The United Arab Emirates central bank said on Wednesday that it was cutting interest rates applied on the iss

31 Jul, 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