DUBAI, July 26 (Xinhua) -- The Central Bank of the United Arab Emirates (UAE) decided on Wednesday to raise the base interest rate by 25 basis points to 5.40 percent, effective Thursday, the state news agency WAM reported.
The decision was taken after the U.S. Federal Reserve raised its key interest rate by 25 basis points to a range of 5.25-5.5 percent.
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