UAE Central Bank Cuts Interest Rates by 25 Basis Points

Forex - The Central Bank of the United Arab Emirates (CBUAE) has lowered the policy interest rate by 25 basis points. According to the announcement from CBUAE, the benchmark interest rate has been reduced from 4.65% to 4.40%. The CBUAE made this decision following the Federal Reserve's (Fed) 25 basis point cut in the benchmark interest rate.