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- Dubai 04:43 05:58 12:20 15:47 18:35 19:50
The United Arab Emirates central bank said on Thursday it decided to raise the interest rate on its certificates of deposits by 25 basis points, effective immediately, it said in a statement.
The announcement came a day after the US Federal Reserve raised rates for the first time in nine years.
The UAE rate hike follows interest rate rises of a quarter of a percentage point by the central banks of Saudi Arabia, Kuwait and Bahrain.
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