DUBAI, June 14 (Reuters) - The central bank of the United Arab Emirates said on Wednesday it was raising its key interest rate by 25 basis points, following the U.S. Federal Reserve's decision to hike rates by the same margin.
The repo rate for borrowing short-term liquidity from the UAE central bank against certificates of deposit has been increased by 25 bps to 1.50 percent.
(Reporting by Andrew Torchia; editing by Mark Heinrich) ((andrew.torchia@thomsonreuters.com; +9715 6681 7277; Reuters Messaging: andrew.torchia.thomsonreuters.com@reuters.net))
The repo rate for borrowing short-term liquidity from the UAE central bank against certificates of deposit has been increased by 25 bps to 1.50 percent.
(Reporting by Andrew Torchia; editing by Mark Heinrich) ((andrew.torchia@thomsonreuters.com; +9715 6681 7277; Reuters Messaging: andrew.torchia.thomsonreuters.com@reuters.net))
