+ A
A -
QNA
Doha
The Qatar Central Bank (QCB) on Thursday said it has raised the QCB Deposit Rate (QCBDR) by 25 basis points to 1.75 percent based on local and international economic data.
The central bank has maintained the QCB Lending Rate (QCBLR) at its current level of 5 percent and QCB Repurchase Rate (Repo) at its current level of 2.50 percent, a QCB statement obtained by Qatar News Agency said.
The price of repo agreements is the central bank lending rate for banks operating in Qatar. Qatar Central Bank's decision to raise interest rates is in line with the decision of the US Federal Reserve to raise interest rates by 25 basis points in a move that coincided with market estimates and analysts.
US Federal Reserve said it had raised its key interest rate to a range of 1.5 percent to 1.75 percent.
This is the first increase in the US interest rate this year after three increases approved by the US Central Bank last year 2017.
The Qatari riyal has been pegged to the US dollar at a fixed rate since 1980.
