The central bank of the United Arab Emirates is, very creatively, called The Central Bank of the UAE.
Headlines crossing now that the Bank has jacked up its base rate.
Its 1am in Dubai so you may be wondering, why the sneaky, middle of the night, rate rise?
But, of course, the currency in the UAE, the dirham, is pegged to the USD so this is regular occurrence after a Federal Reserve rate hike. Indeed, most Gulf region currencies are pegged to the dollar, so other central banks there will follow suit.
Are central bankers in the UAE divided into hawks and doves are all they all falcons?
Its ok, I'll see myself out.
