(MENAFN- The Peninsula) QNA
Doha: The Central Bank of Qatar (QCB) announced yesterday that it has raised its QCB Deposit Rate (QCBDR) by 25 basis points to 1.75%., based on local and international economic data.
The central bank said in a statement obtained by Qatar News Agency that it had maintained the QCB lending Rate (QCBLR) at its current level of 5.00% and QCB Repurchase rate (Repo) at its current level of 2.50%. The price of repo agreements is the central bank lending rate for banks operating in Qatar. QCB's decision to raise interest rates in line with the decision of the US Federal Reserve, announced on Wednesday, 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% to 1.75%, 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 linked to the US dollar at a fixed rate since 1980.
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