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UAE cuts repurchase rate
- United Arab Emirates: Wednesday, March 19 - 2008 at 11:24
The UAE's central bank has cut its overnight repurchase rate by 75 basis points to 2.25% on Wednesday, matching a US rate cut a day earlier, reported Reuters. The repo, introduced in November, is the UAE benchmark and sets the rate at which banks borrow funds from the central bank.
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Jeff Florian, Senior ReporterWednesday, March 19 - 2008 at 11:24 UAE local time (GMT+4)
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