UAE central bank raises interest rates by 25 bps
UAE central monetary authority raises rates on the issuance of its certificates of deposit
DUBAI: The United Arab Emirates central bank said on Wednesday it was raising its repo rate by 25 basis points, and also raising interest rates on the issuance of its certificates of deposit in line with the increase in US dollar rates.
The central bank was acting after the US Federal Reserve hiked rates by 25 bps.