Qatar, which pegs its riyal to the dollar, cut its deposit facility rate by 50 basis points but left its benchamrk lending rate unchanged on Thursday after a US rate cut a day earlier.
The deposit rate fell to 3 per cent from 3.5 per cent while the benchmark lending facility rate was unchanged at 5.5 per cent, a central bank official said.
The repurchase rate was unchanged at 5.55 per cent, the official said.
The Fed reduced its benchmark by half a percentage point on Wednesday, its second rate cut in eight days, as part of an ongoing effort to halt a sharp slowdown in an economy hit by a housing slump and a credit crunch. (Reuters)
Qatar lowers deposit rate after Fed cut