UAE-Mubasher: The UAE’s commercial banks’ annual long-term interest rates rose by more than 8.8 points or 7.24% from 1.22% in 1 November to reach 1.31%; the highest rate in five years, according to a report published by the Central Bank of the UAE.
Three-month interest rates grew 11 points or 13.02% to stand at 0.96% from 0.84%, while six-month interest rates increased 8.1 points or 8.1% from 0.99% to 1.07%.
One-month interest rates advanced 1.1 points or 1.91% to 0.57% from 0.56%, whereas one-week interest rates declined 5.8 points or 20.46% to 0.23% from 0.28%.
Short-term interest rates significantly rose, while medium-term interest rates remained unchanged when compared to figures from mid-September.
