The U.S. Federal Reserve has trimmed rates by 25 basis points, setting its federal funds rate between 4.00 and 4.25 percent.

The U.S. Federal Reserve has trimmed rates by 25 basis points, setting its federal funds rate between 4.00 and 4.25 percent. Following that move, the UAE Central Bank also lowered its base rate to 4.15 percent. The cut is expected to ease borrowing costs slightly for businesses and households across the Emirates.