The Central Bank of the United Arab Emirates (CBUAE) has announced that it will maintain the base rate applicable to the overnight deposit facility at 5.40%. This decision, made on November 1, 2023, aims to support the UAE’s economic stability and growth. Credit: HiDubai Focus The CBUAE emphasized that the decision aligns with its commitment...
The Central Bank of Egypt’s (CBE) Monetary Policy Committee (MPC) has announced a reduction in key interest rates by 100 basis points (bp). This decision was communicated through a press release issued on May 22nd. As a result of this cut, the overnight deposit rate now stands at 24%, while the overnight lending rate has...
The Central Bank of the UAE (CBUAE) has decided to keep the Base Rate for the Overnight Deposit Facility (ODF) unchanged at 4.40%. This decision aligns with the recent announcement from the US Federal Reserve, which also chose to maintain its Interest Rate on Reserve Balances (IORB) at the current level. In addition to the...
The UAE Central Bank has decided to maintain its current interest rate for the overnight deposit facility at 4.4 per cent. This move aligns with the US Federal Reserve’s recent decision to keep its rates steady, following three consecutive rate cuts. The decision reflects the UAE’s monetary policy approach, which closely follows the US model...
The Central Bank of the UAE (CBUAE) has reported that gross banks’ assets, which include bankers’ acceptances, rose by 1.3% from AED4.4 trillion at the end of September 2024 to exceed AED4.456 trillion by the end of October 2024. This information was detailed in the Monetary & Banking Developments – October 2024 report released by...