Qatar’s Central Bank Cuts Overnight Deposit Rate
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Qatar’s central bank cut its overnight deposit rate by half a percentage point to 1.5 percent, its first such move in two years, after the U.S. repeated its pledge to keep rates low for an extended period.
All other key rates remained unchanged, said a central bank official, who spoke on condition of anonymity because of bank regulations. Qatar’s overnight deposit rate was last cut by 25 basis points to 2 percent on May 1, 2008. The lending rate, which is the key measure used by the central bank to convey signals to the market, was held at 5.5 percent.