OTM: Time zone of Rate Record Effective Date

Summary:

What time zone is used to store the Rate Record Effective Date?

Content (please ensure you mask any confidential information):

When I enter an Effective Date of 2025-01-02 in a Rate Record, in the OTM database it is saved as 2025-01-02 08:00:00

Is there any way to control this 8 hour offset? As this date is not related to any location, I was expecting the timezone to be UTC. In my Preferences, the time zone is GMT+1 (CET)

select rate_geo_xid, EFFECTIVE_DATE, expiration_date from rate_geo where rate_geo_xid= 'RR_0209_TRP_TL_250101_CARVIN-FR_091_MAG'

RATE_GEO_XID