{"id":49282,"date":"2022-09-21T23:09:48","date_gmt":"2022-09-21T19:09:48","guid":{"rendered":"https:\/\/www.uaebarq.ae\/en\/?p=49282"},"modified":"2022-09-21T23:09:50","modified_gmt":"2022-09-21T19:09:50","slug":"cbuae-raises-the-base-rate-at-75-basis-points-2","status":"publish","type":"post","link":"https:\/\/www.uaebarq.ae\/en\/2022\/09\/21\/cbuae-raises-the-base-rate-at-75-basis-points-2\/","title":{"rendered":"CBUAE Raises the Base Rate at 75 Basis Points"},"content":{"rendered":"\n<p>The Central Bank of the UAE\n(CBUAE) has decided to raise the Base Rate applicable to the Overnight Deposit\nFacility (ODF) by 75 basis points \u2013 from 2.4% to\n3.15%, effective from Thursday, 22 September 2022. <\/p>\n\n\n\n<p>This decision was taken following\nthe US Federal Reserve Board\u2019s announcement on <\/p>\n\n\n\n<p>21 September 2022 to increase the\nInterest on Reserve Balances (IORB) by 75 basis points. <\/p>\n\n\n\n<p>The CBUAE also has decided to maintain the rate\napplicable to borrowing short-term liquidity from the CBUAE through all\nstanding credit facilities at 50 basis points above the Base Rate.<\/p>\n\n\n\n<p>The Base Rate, which is anchored to the US Federal\nReserve\u2019s IORB, signals the general stance of the CBUAE\u2019s monetary policy. It\nalso provides an effective interest rate floor for overnight money market\nrates.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Central Bank of the UAE (CBUAE) has decided to raise the Base Rate applicable to the Overnight Deposit Facility (ODF) by 75 basis points \u2013 from 2.4% to 3.15%, effective from Thursday, 22 September 2022. This decision was taken following the US Federal Reserve Board\u2019s announcement on 21 September 2022 to increase the Interest &hellip;<\/p>\n","protected":false},"author":2,"featured_media":49283,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,4],"tags":[],"class_list":["post-49282","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-economy","category-news"],"_links":{"self":[{"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/posts\/49282","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/comments?post=49282"}],"version-history":[{"count":1,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/posts\/49282\/revisions"}],"predecessor-version":[{"id":49284,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/posts\/49282\/revisions\/49284"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/media\/49283"}],"wp:attachment":[{"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/media?parent=49282"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/categories?post=49282"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/tags?post=49282"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}