UAE central bank cuts base rate by 25 bps –statement
CAIRO, Nov 7 (Reuters) -The United Arab Emirates cut its base rate applied to the overnight deposit facility by 25 basis points on Thursday, from 4.90% to 4.65%, effective November 8.
The move follows the Federal Reserve's decision to cut U.S. rates by a quarter percentage point.
Reporting by Yomna Ehab and Ahmed Tolba
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