How will low interest rates in the US affect you?
Remittances from the UAE are expected to continue at stable levels. The volumes, however, would be a little subdued as white-collar expatriates look to hold on to their reserves for better rates. Pawan Singh / The National
If you are planning to buy a property in the UAE this year, then there is some good news for you. The US Federal Reserve's decision to retain its benchmark interest rate at near zero per cent until at least the end of 2023 to stimulate economic growth and counter weak inflation will lower the cost of borrowing for consumers, including for mortgages.