{"id":93031,"date":"2024-06-13T00:00:00","date_gmt":"2024-06-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/cbuae-holds-rates-steady\/"},"modified":"2024-06-13T00:00:00","modified_gmt":"2024-06-13T00:00:00","slug":"cbuae-holds-rates-steady","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/06\/13\/cbuae-holds-rates-steady\/","title":{"rendered":"CBUAE holds rates steady"},"content":{"rendered":"

The Central Bank of the UAE kept interest rates unchanged yesterday, <\/strong>following the US Federal Reserve's decision, maintaining its overnight deposit rate at 5.40% and the overnight lending rate at 5.90%, it said in a statement (pdf)<\/a>.<\/p>\n

REMEMBER- <\/strong>The UAE\u2019s overnight deposit rate, or the base rate on overnight deposit facilities, is anchored to the US Federal Reserve\u2019s interest rates as the AED is pegged to the USD.<\/p>\n

Rate cuts coming in December? <\/strong>Policymakers signaled one rate cut this year in December, though traders are now pricing in two cuts as US inflation continues to show signs of slipping. We have more in Planet Finance, below.<\/p>\n","protected":false},"excerpt":{"rendered":"

The central bank maintained its overnight deposit rate at 5.40%<\/p>\n","protected":false},"author":1,"featured_media":93032,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1556],"tags":[157,19,7,331],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-93031","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-central-bank-of-the-uae","tag-economy","tag-enterpriseam-uae","tag-interest-rates","wpautop","entry"],"acf":{"mongo_id":"ba276a1c-880c-4a47-b876-c2e0aca1ae62","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/1\/2590.jpg","photo_position":"above","homepage_title":"","full_issue_title":"CBUAE holds rates steady","related_issue":[93019],"teaser":"The central bank maintained its overnight deposit rate at 5.40%","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.78313e0d-f10e-4d2a-99c4-7bcc753328d7.mp3"},"yoast_head":"\nCBUAE holds rates steady - 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