June 14, 2018 / 6:03 AM / 10 days ago

UAE central bank hikes repo rate by 25 basis points

ABU DHABI, June 13 (Reuters) - The United Arab Emirates central bank said on Thursday that it was raising its repo rate by 25 basis points to 2.25 percent and increasing interest rates on certificates of deposits by the same margin.

The move came after the U.S. Federal Reserve decided to raise its target range for the federal funds interest rate by a quarter of a percentage point, to between 1.75 percent and 2 percent. (Reporting by Stanley Carvalho and Saeed Azhar; Editing by Sam Holmes)

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