CAIRO, May 3 (Reuters) - The central bank of the United
Arab Emirates on Wednesday said it would raise the base rate on
its Overnight Deposit Facility by 25 basis points to 5.15%, from
4.90%, effective Thursday.
The decision followed the US Federal Reserve's move earlier
to raise interest rates by a quarter of a percentage point.
(Reporting by Alaa Swilam and Muhammad Al Gebaly)
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.