![Interest rates on credit cards will rise after the UAE Central Bank raised its benchmark rate by 25 basis points on Wednesday. AP](https://thenational-the-national-prod.cdn.arcpublishing.com/resizer/v2/NWXIX4EW3DEN6O4L4E3RLXOQAE.jpg?smart=true&auth=4858f9fede885a62249767c72cc918524921f8fadf8a264a604d23c074f842a3&width=400&height=225)
Interest rates on credit cards will rise after the UAE Central Bank raised its benchmark rate by 25 basis points on Wednesday. AP
Interest rates on credit cards will rise after the UAE Central Bank raised its benchmark rate by 25 basis points on Wednesday. AP
What does the US Fed's interest rate rise mean for UAE consumers?
The move affects loans, credit cards, mortgages and car financing and makes borrowing more expensive