December 19, 2018 / 7:36 PM / 2 months ago

UAE central bank raises interest rates 25 bps

DUBAI, Dec 19 (Reuters) - The United Arab Emirates central bank said on Wednesday that it was raising interest rates on certificates of deposit in line with the increase in U.S. dollar rates, after the U.S. Federal Reserve Board’s decision to hike rates by 25 basis points.

The UAE central bank said its repo rate for borrowing short-term liquidity had also been increased by 25 bps. (Reporting by Andrew Torchia; Editing by Alison Williams)

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