Qatar Central Bank (QCB) has announced an increase in the interest rates. QMR Lending (QMRL) rate rose from 4.50% to 4.75%, and QMR Deposit (QMRD) rate rose from 0.75% to 1%, effective as of the date hereof. According to QCB statement yesterday, the repo rate was amended to become 2.25% and the repo operations maturity from 14 to 7 days.
Meanwhile, Saudi Arabia, Kuwait and Bahrain have also raised interest rates within minutes of the US Federal Reserve’s decision to do so on Wednesday.
The Fed said in a statement after its policy meeting that it's raising its benchmark rate by a quarter-point to a still-low range of 0.5 percent to 0.75 percent. The Fed had most recently raised the rate last December from a record low near zero set during the 2008 financial crisis.
