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FinancialNews


  • 03-08-19

    Qatar cuts interest rate by 25 basis points

    (MENAFN) Qatar Central Bank is imposing a 25 basis points reduction in its benchmark interest rate, a move that follows 25 basis points cuts the U.S. Federal Reserve imposed on lending interest rate.

    In a statement, the Qatari central bank announced: "taking into account the evolving domestic and international macroeconomic developments, Qatar Central Bank has decided on Aug. 1, 2019 to reduce the QCB lending rate (QCBLR) by 25 bps to 4.75 percent."

    Similar moves are also being imposed by central banks of Bahrain, Saudi Arabia and the United Arab Emirates (UAE).

    This comes as the Qatari currency, the riyal, has been pegged to the U.S. dollar at a fixed rate since 1980.

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