October 30, 2019 / 6:46 PM / 21 days ago

UAE central bank cuts rates by 25 basis points

DUBAI, Oct 30 (Reuters) - The United Arab Emirates central bank said on Wednesday that it was cutting interest rates applied on the issuance of certificates of deposits by 25 basis points.

The central bank also said the repo rate for borrowing short-term liquidity had been cut by 25 basis points. (Reporting by Aziz El Yaakoubi and Asma Alsharif, writing by Nafisa Eltahir)

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