Central Bank measures aimed at lowering interbank rates could give the depressed UAE mortgage sector a boost but will take longer to lower the cost of personal loans, bankers say.

That could be good news for homeowners across the Emirates who are saddled with expensive mortgages despite historically low interest rates around the world.

'As the Government wants to make Eibor more reflective of the market, it will impact the products most closely linked to Eibor and that will have a cascading effect through the economy,' said Venkatesh Srikantan, the international and regional head of assets and liabilities at HSBC Middle East.

The National