US Federal Reserve

China–UAE News

Investors Track China Interventions, Dubai Yulan Bond Debut, and Interest Rates

Market participants are monitoring key financial metrics including state-backed Chinese ETF purchases and Bank of China Dubai's landmark Yulan bond debut on Nasdaq Dubai. The two-year, 2 billion yuan bond issue was more than five times oversubscribed, with sovereign accounts taking over 30 percent. Other major indicators include Standard Chartered's 46 percent profit rise and steady benchmark interest rates in the US and Hong Kong.

Policy & Legal Updates

UAE Central Bank Holds Base Rate at 3.9 Percent Following US Fed Decision

The Central Bank of the United Arab Emirates has held its base rate on overnight deposit facilities at 3.9 percent. The decision follows the US Federal Reserve's move to keep its interest rate on reserve balances unchanged. The UAE regulator also maintained the borrowing rate for short-term liquidity at 50 basis points above the base rate.

Industry News

Gold Gains as Oil Declines and China Steps Up Central Bank Buying

Gold prices moved higher as declining crude oil prices eased inflation worries and spurred hopes of a pause in US Federal Reserve interest rate hikes. In the UAE, retail gold prices held firm with 24-karat trading at Dh505.50, while China's central bank accelerated gold purchases alongside inflows into gold-backed ETFs.