CBUAE lowers Base Rate by 25 basis points

ABU DHABI, 7th November, 2024 (WAM) -- The Central Bank of the UAE (CBUAE) has decided to cut the Base Rate applicable to the Overnight Deposit Facility (ODF) by 25 basis points, from 4.90% to 4.65%, effective from Friday, 08 November.

This decision was taken following the US Federal Reserve's announcement today to reduce the Interest Rate on Reserve Balances (IORB) by 25 basis points.

The CBUAE has also de