CBUAE maintains rate at 5.15 percent; Fed finally hit a pause in the US but projections say more hikes coming before the end of year
Overnight Deposit Facility
Latest in Overnight Deposit Facility
Central Bank of Egypt
Egyptian pound plummets, stock market rebounds after 2% rate hike by the central bank
The bank also announced the start of a ‘durably flexible exchange rate regime’, which will measure the Egyptian pound against other foreign currencies
Central Bank
Central banks in the Gulf follow US Fed move to raise interest rates
Most Gulf central banks follow the US Fed because their currencies are pegged to the US dollar
Central Bank of Bahrain
Gulf central banks follow US Fed move to raise interest rates to curb inflation
The Federal Reserve announced a consecutive 0.75 percentage point interest rate hike – in a bid to rein in inflation and avoid recession
50 basis points
UAE Central Bank follows US Fed move to raise interest rates in effort to curb inflation
Inflation is much too high and we understand the hardship it is causing, and we’re moving expeditiously to bring it back down, the US Federal Reserve Chair said
Allsopp & Allsopp
UAE Central Bank rate hike could impact mortgage loans, increase demand in high-end properties: expert
The market is likely to see an increase in demand as buyers look to speed up their buying process to lock their mortgage product, and therefore their monthly payments, in place now, before they increase, Lewis Allsopp said.
CBUAE
UAE Central Bank’s move to raise rates will “increase profitability for banks, lenders” and will help contain inflation: experts
Given the UAE economy’s impressive recovery from the pandemic, and the significant rise in oil prices, the impact of a rate hike on economic growth could be limited in the near term, experts said
CBUAE
UAE Central Bank raises overnight deposit facility by 25 basis points
Decision follows US Federal Reserve Board’s announcement to increase interest on reserve balances