The central bank of the VAE (CBUAE) You have decided to maintain the basic rate that applies to the overnight stay Deposith (ODF) at 4.40%.
This decision was taken after the announcement of the American Federal Reserve today to keep the interest rate on Reserve Balances (IORB) unchanged.
The CBUAE has also decided to apply the interest rate to borrowing liquidity in the short term of the CBUAE at 50 basic points above the basic rate for all steeling credit facilities.
The basic rate, which is anchored in the IORB of the American Federal Reserve, indicates the general position of monetary policy and offers an effective floor for interest rates of the night market in the VAE.
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