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© Al Nisr Publishing LLC 2020. Consumers should thus subsequently expect to incur higher borrowing costs in the near term,” Raghu Mandagolathur, senior vice president for research at Kuwait Financial Centre “Markaz”, told Gulf News.The certificates of deposit, which  the central bank issues to financial institutions operating in the country, are the monetary policy instrument through which changes in interest rates are transmitted to the UAE banking system.The US Federal Reserve has raised the benchmark lending rate by 0.25 per cent to a range between 1.75 and 2 per cent.We’ll send you latest news updates through the day. Password should have minimum 7 characters with at least one letter and number More Currencies.
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