The Central Bank of the United Arab Emirates announced a 25 basis point interest rate cut.

On December 10th local time, after the Fed announced a 25 basis point rate cut, the Central Bank of the UAE announced a 25 basis point reduction in its benchmark interest rate to 3.65%. Since 1997, the UAE has pegged its currency, the dirham, to the US dollar. Therefore, the Central Bank of the UAE adjusts its interest rates after every change in the Fed's interest rates.