The regional apex banks -- including the CBUAE, SAMA, CBB, and QCB -- have raised rates by 25bps in response to the US Fed's decision to increase its benchmark lending rate.
UAE Central Bank raises base rate by 50 basis points after Fed hike
The Central Bank of the UAE (CBUAE) has decided to raise the Base Rate applicable to the Overnight Deposit Facility (ODF) by 50 basis points, effective from Thursday. This decision was taken following the US Federal Reserve Board’s announcement on Wednesday to increase the Interest on Reserve Balances (IORB) by...
UAE interbank rates up replicating US Fed’s move
The move comes after the US Federal Reserve increased the interest on excess reserves by 5 bps In the UAE, the one-year deposit facility booked a significant rise to 0.748 bps on Jun 17 Interest rates that are based on the Emirates Inter-Bank Offered Rate or EIBOR rose across the...
