Thursday, April 7, 2011

Qatar Central Bank Cuts Rate 50bps to 1.00%

The Qatar Central Bank reduced its main overnight deposit rate by 50 basis points to 1.00% in order to boost the non-oil sector and regulate capital flows. The Bank also reduced the overnight lending facility and repo rate by 50 basis points to 5.0% from 5.50% and 5.55% respectively. The Qatari economy is expected to grow at a rate in excess of 15% this year due to increased gas output, high oil prices, and a 19% increase in government spending.


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