Abu Dhabi – Mubasher: The UAE's central bank will increase interest rates applied to the issuance of its certificates of deposits, effective on Thursday, 16 March, according to a statement on Wednesday.
The central bank’s decision followed the US Federal Reserve’s decision to increase the federal funds rate by 25 basis points at its meeting on Wednesday, 15 March.
The Repo Rate applicable to borrowing short-term liquidity from the central bank against certificates of deposits has also been gone up by 25 basis points to 1.25%.
