GN; UAE Central Bank cuts repo rate to 1.5 per cent, matching Fed move
Dubai: The United Arab Emirates Central Bank cut its benchmark repo rate by a 0.5 percentage point to 1.5 per cent, an official at the regulator said in a phone interview from Abu Dhabi on Wednesday.
The rate cut matches similar reductions carried out by the US Federal Reserve, the European Central Bank and four other central banks on Wednesday.
The UAE pegs its currency to the dollar and usually follows interest rate cuts made by the US.
