QCB announces rate hike from Thursday

Qatar Central Bank (QCB) has announced that it will raise its deposit rate (QCBDR) by 75 basis points (bps) to 3.75%, with effect from September 22.

According to a tweet by QCB  Wednesday, the lending rate (QCBLR) will also be increased by 75 basis points (bps) to 4.50%, while the repurchase rate (QCB Repo Rate) will have a 75 basis points (bps) raise to 4%.

The decision by the Monetary Policy Committee takes into account evolving domestic and international macro-economic developments, QCB said.