Qatar Central Bank (QCB) decided to reduce the current interest rates for deposits, lending and repo by 0.55% or 55 basis points (bps) last night.
The new rates will take effect on Thursday, September 19, QCB noted.
Qatar Central Bank’s deposit rate (QCBDR) will now be 5.20%, lending rate (QCBLR) 5.70% and repo rate (QCBRR) 5.45%.
In a message on X, QCB said the rate cut followed its “assessment of the current monetary policy of the State of Qatar.
Meanwhile, the United States Central Bank - Federal Reserve announced a 0.5% (50 basis points) rate cut last night, its first rate reduction cut since Covid-19 decimated the global economy.
Terming the rate cut as “aggressive”, broadcaster CNN noted, “The Fed said the cut signals inflation is under control. But it could also suggest the economy, which is showing signs of stress, is in need of a jolt. The Fed said job creation and inflation are ‘in balance’, and most mainstream economists agree a recession is not around the corner. But few economists believe the US economy is not out of the woods yet.”
