Reuters logo
UAE central bank raises key policy rate by 25 bps
December 17, 2015 / 6:49 AM / 2 years ago

UAE central bank raises key policy rate by 25 bps

DUBAI, Dec 17 (Reuters) - The United Arab Emirates central bank said on Thursday it decided to raise the interest rate on its certificates of deposits by 25 basis points, effective immediately, it said in a statement.

The announcement came a day after the U.S. Federal Reserve raised rates for the first time in nine years.

The UAE rate hike follows interest rate rises of a quarter of a percentage point by the central banks of Saudi Arabia, Kuwait and Bahrain. [ID: nL8N1454XV]

Certificats of Deposit are the monetary policy instrument used by the UAE central bank through which changes in interest rates are transmitted.

Reporting by Stanley Carvalho; Writing by Tom Arnold; Editing by Archana Narayanan

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below