CBUAE raises Base Rate by 25 basis points

CBUAE raises Base Rate by 25 basis points The Central Bank of the UAE (CBUAE) has decided to raise the Base Rate applicable to the Overnight Deposit Facility (ODF) by 25 basis points, effective from Thursday, 17th March 2022. This decision was taken following the US Federal Reserve Board’s announcement on 16th March 2022 to increase the Interest on Reserve Balances (IORB) by 25 basis points. The CBUAE also has decided to maintain the rate applicable to borrowing short-term liquidity from the CBUAE through all standing credit facilities at 50 basis points above the Base Rate. The Base Rate, whi…

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