DOHA: Qatar Central Bank (QCB) announced yesterday that it reduced its deposit rate (QCBDR) by 25 bps to 2.25 percent, lending rate (QCBLR) by 25 bps to 4.50 percent, and the QCB Repurchase rate (Repo) by 25 bps to 2.25 percent.
In a press release issued yesterday, the QCB said that the decision to reduce its deposit rate, lending rate and the Repurchase rate is based on the evolving domestic and international macroeconomic developments.
QCB’s decision comes in line with the US Federal Reserve’s (US central bank) decision, announced Wednesday, reducing the key interest rate by a quarter point for the second time this year in a move expected to support economic growth.
Countries which their currencies are pegged to the US dollar raise interest rates in line with a US Federal Reserve’s decision.
