Qatar central bank raises deposit rate by 25 basis points

September 27, 2018

Qatar Central Bank (QCB) announced that it has raised the QCB Deposit Rate (QCBDR), as of today, by 25 basis points to 2.25%.

The bank stated that the move took into account the evolving domestic and international macroeconomic developments.

QCB’s decision to raise deposit rate prices is aligned with the U.S. Federal Reserve’s resolution to lift the benchmark overnight lending rate by a quarter of a percentage point to a range of 2.00 percent to 2.25 percent, and the fact that the Qatari Riyal is tied to the U.S. Dollar since 1980.

The U.S. central bank still foresees another rate hike in December, three more next year, and one increase in 2020.