The US Federal Reserve held interest rates steady on Wednesday, despite intense pressure from President Donald Trump.
The decision, which kept the Fed's target range for rates unchanged at between 3.5 per cent and 3.75 per cent, was followed by the UAE Central Bank, which moves in line with the Fed on monetary policy because of the dollar peg.
In defending the decision, Fed Chair Jerome Powell pointed to signs of stabilisation in the labour market while inflation remains "somewhat elevated".
Mr P
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