CBUAE Increases Base Rate


 The Central Bank of the UAE (CBUAE) has increased the base rate of the Overnight Deposit Facility (ODF) by 75 basis points.

The change has already come into effect and has been increased from 2.4% to 3.15%.

The decision was made after the US Federal Reserve Board increased the Interest on Reserve Balances (IORB) by 75 basis points.

The CBUAE will 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.

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