Qatar Central Bank Reduces Interest Rates by 0.25%

Qatar Central Bank (QCB) decided to reduce the current interest rates for deposits, lending and repo by 0.25% or 25 basis points (bps).

The new rates will take effect on October 30, QCB announced last night.

Qatar Central Bank’s deposit rate (QCBDR) will now be 4.10%, lending rate (QCBLR) 4.60% and repo rate (QCBRR) 4.35%.

In a statement, QCB said the rate cut followed its “assessment of the current monetary policy of the State of Qatar.