UAE Central Bank Interest Rates: Interest Rates Have Been Raised In The UAE; The EMI Loan Will Be Affected

UAE Central Bank Interest Rates: Interest Rates Have Been Raised In The UAE; The EMI Loan Will Be Affected
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Dubai: The UAE Central Bank raised interest rates by 0.75 percent. Banks in the Gulf raised interest rates after the US Federal Reserve raised their interest rates. The UAE Central Bank announced that new interest rates would be in effect starting Thursday. 

The interest rate climbed 75 basis points to 2.4 percent. Economists warn that rising interest rates could hurt the country’s non-oil market. Experts say this will not impact the country’s economy because crude oil prices are still high.

UAE Central Bank Raised EMI Rates

The UAE’s interest rate rise will have an impact on credit card repayments and home loan and personal loan repayments. According to reports, the EMI will rise above the current level. The US Federal Reserve increased interest rates by 0.75 percent. After this announcement, the central banks of most Gulf countries made public their intention to raise interest rates. Follow Us On Twitter

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