UAE central bank raises interest rates by 25 bps | Reuters

UAE central bank raises interest rates by 25 bps | Reuters:

The United Arab Emirates central bank said on Wednesday it was raising its repo rate by 25 basis points, and also raising interest rates on the issuance of its certificates of deposit in line with the increase in U.S. dollar rates.

The central bank was acting after the U.S. Federal Reserve hiked rates by 25 bps.