Doha: The Qatar Central Bank (QCB) has hiked interest rates. The new interest rates will come into force from today, September 22, 2022. QCB hiked the deposit rate (QCBDR) by 75 basis points (bps) to 3.75%. QCB also hiked its QCB Lending Rate (QCBLR) by 75 basis points (bps) to 4.50% and the QCB Repurchase Rate (QCB Repo Rate) by a 75 basis points (bps) to 4%.
The decision was taken by the Monetary Policy Committee of QCB. The decision was taken as the US Federal Reserve hiked the interest rate. This is the fifth US Fed increase in policy rate this year.
Also Read: Forex Market: Indian rupee touch all-time low against US dollar
Earlier in July, QCB increased the main deposit rate by 75bps to 3% while the repo rate was raised to 3.25%. It also hiked the lending rate by 50bps to 3.75%.
Post Your Comments