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UAE’s central bank governor on interest rate cut and risks ahead

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Dubai’s skyline

Andrew Madali | 500px Prime | Getty Images

ABU DHABI – A recent move by the United Arab Emirates (UAE) to cut interest rates will protect the currency and support the economy amid rising external risks, the country’s top central banker told CNBC on Sunday.

“When we have a turning cycle, lower rates really help our economy,” Central Bank Governor Mubarak Rashed Khamis Al Mansoori said in an panel discussion at the Middle East Banking Forum event in Abu Dhabi.

The governor also addressed key uncertainties such as rising global risks, diverging global rates and the impact of both on the domestic growth outlook in the United Arab Emirates.

“I think the UAE is on a very good path…



Source cnbc.com

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