Qatar Central Bank Raises Deposit Interest Rate to 2.25%

Doha, September 27 (QNA) - Qatar Central Bank (QCB) announced Thursday that it decided to raise its QCB Deposit Rate (QCBDR) by 25 basis points to 2.35 percent, based on local and international economic data. The Central Bank said in a statement obtained by Qatar News Agency (QNA) that QCB's decision to raise QCBDR comes in line with the US Federal Reserve's (US central bank) decision, announced Wednesday, raising the key interest rate by 25 basis points (0.25 percentage point), to a range of 2 to 2.25 percent. The Qatari riyal is pegged to the US dollar at a fixed exchange rate since 1980. The US central bank still foresees another rate hike in December, three more next year, and one increase in 2020. (QNA)