CBUAE keeps interest rate at 5.40%, following US Fed's decision

From Gulf Business: 2024-06-13 03:15:28

The Central Bank of the UAE maintains its Base Rate at 5.40% in response to the US Fed’s decision to keep interest rates steady, indicating stability in monetary policy. US Fed Chair Powell highlights confidence in the economy’s growth and decreased inflation impact. CBUAE’s alignment with the Fed signals a cautious approach to future economic conditions. The decision keeps borrowing rates steady in the UAE, linked to US Fed’s Interest on Reserve Balances. Powell emphasizes future rate adjustments will depend on comprehensive economic analysis.



Read more at Gulf Business: CBUAE holds interest rate at 5.40%, mirroring US Fed’s decision