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Article: Central Bank - interest rates Banks welcome rate cut plan to boost liquidity.

Article from:
Gulf News (United Arab Emirates)
Article date:
March 19, 2009
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Dubai: Banks have responded positively to Central Bank governor Sultan Bin Nasser Al Suwaidi's comments about plans to cut interest rates soon and the effectiveness of federal measures to improve liquidity.

"The monetary policy in the UAE will continue to be geared to maintaining low official interest rates to maintain some positive economic growth in the coming few years. The credit and banking policy will emphasise a reasonable but low rate of credit expansion and restricted banking expansion," Al Suwaidi was quoted as saying by the news agency WAM.

Al Suwaidi's comments however were not entirely unexpected.

"The UAE Central Bank has been ...

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