The Central Bank of the United Arab Emirates has cut the 'base rate' on overnight deposit facilities by 25 basis points, from 4.15% to 3.90%, effective Thursday, September 18. This decision is aimed at stimulating the country's economy.
UAE Central Bank Cuts Key Interest Rate
The Central Bank of the UAE announced a 25 basis point cut to its base rate on overnight deposits, lowering it to 3.90%, effective September 18. This move is part of efforts to support economic growth.
