{"id":60517,"date":"2024-09-18T22:23:08","date_gmt":"2024-09-18T18:23:08","guid":{"rendered":"https:\/\/www.uaebarq.ae\/en\/?p=60517"},"modified":"2024-09-18T22:23:09","modified_gmt":"2024-09-18T18:23:09","slug":"cbuae-lowers-the-base-rate-by-50-basis-points","status":"publish","type":"post","link":"https:\/\/www.uaebarq.ae\/en\/2024\/09\/18\/cbuae-lowers-the-base-rate-by-50-basis-points\/","title":{"rendered":"CBUAE Lowers the Base Rate by 50 Basis Points"},"content":{"rendered":"\n<p>The Central Bank of the UAE (CBUAE) has decided to cut the Base Rate applicable to the Overnight Deposit Facility (ODF) by 50 basis points, from 5.40% to 4.90%, effective from Thursday, 19 September.<br><br>This decision was taken following the US Federal Reserve\u2019s announcement<br> today to reduce the Interest Rate on Reserve Balances (IORB) by 50 basis<br> points.<br><br> The CBUAE has also decided to maintain the interest rate applicable to<br> borrowing short-term liquidity from the CBUAE at 50 basis points above the Base Rate for all standing credit facilities.<br><br> The Base Rate, which is anchored to the US Federal Reserve\u2019s IORB, signals<br> the general stance of monetary policy and provides an effective floor for<br> overnight money market interest rates in the UAE.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Central Bank of the UAE (CBUAE) has decided to cut the Base Rate applicable to the Overnight Deposit Facility (ODF) by 50 basis points, from 5.40% to 4.90%, effective from Thursday, 19 September.This decision was taken following the US Federal Reserve\u2019s announcement today to reduce the Interest Rate on Reserve Balances (IORB) by 50 &hellip;<\/p>\n","protected":false},"author":4,"featured_media":60518,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-60517","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-news"],"_links":{"self":[{"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/posts\/60517","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\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/comments?post=60517"}],"version-history":[{"count":1,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/posts\/60517\/revisions"}],"predecessor-version":[{"id":60519,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/posts\/60517\/revisions\/60519"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/media\/60518"}],"wp:attachment":[{"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/media?parent=60517"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/categories?post=60517"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/tags?post=60517"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}