The central bank maintains the basis price at 4.40%
Abu Dhabi, January 29/ WAM/ The United Arab Emirates Bank decided to maintain the “basis price” on one night deposit facilities at 4.40%.
This decision comes after the Federal Reserve announced the maintenance price on the reserve balances unchanged in its meeting today.
The central bank also decided to keep the price that applies to borrowing short -term liquidity from the central bank through all existing credit facilities at 50 basis points above the basis price.
The basis price, which is associated with the interest rate on the reserve balances approved by the American Federal Reserve, determines the general position of monetary policy, and also provides a minimum for the actual interest rate of the price of the bank’s monetary for one night in the country.
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