ARN News Centre

CBUAE keeps interest rates unchanged at 4.4%

Thursday, 30 January 2025 10:17

By ARN News Staff

The Central Bank of the UAE (CBUAE) has maintained the Base Rate applicable to the Overnight Deposit Facility (ODF) at 4.40 per cent, following Wednesday's US Federal Reserve’s announcement to keep the Interest Rate on Reserve Balances (IORB) unchanged.

The CBUAE has also decided to maintain the interest rate applicable to borrowing short-term liquidity from the CBUAE at 50 basis points above the Base Rate for all standing credit facilities.

The Base Rate, which is anchored to the US Federal Reserve’s IORB, signals the general stance of monetary policy and provides an effective floor for overnight money market interest rates in the UAE.

More from Business

US-India trade deal could be signed in 3-4 months, US official says

A long-awaited US-India trade agreement could be signed within the next three to four months, a senior US official said on Wednesday, indicating negotiations between the two sides have been virtually completed.
Trump announces 50% tariffs on wide range of Canadian imports

US President Donald Trump has announced sweeping new tariffs of up to 50 per cent on a broad range of Canadian imports, opening a new front in the trade dispute between the neighbouring countries.
Fitch assigns Invest Bank long-term credit rating of 'BBB+'

Fitch Ratings has assigned Invest Bank (INB) its first long-term credit rating of BBB+ with a stable outlook, marking the institution’s strong financial profile and positioning the bank for sustainable long-term growth.
ADNOC approves $6.2bn investment to expand UAE gas production

ADNOC has approved a $6.2 billion (AED22.6 billion) investment to develop the Umm Shaif Gas Cap project, as it steps up plans to expand the UAE's natural gas production and liquefied natural gas (LNG) exports.
UAE banks, financial institutions begin issuing Jaywan cards to customers

The UAE has begun issuing Jaywan cards - its first homegrown payment scheme - to customers.