Qatar c.bank cuts interest rates by at least 50 bps | Reuters

Qatar's central bank on Tuesday slashed key interest rates by at least 50 basis points for the first time since August, its website showed.

The move brought the main overnight deposit rate to 1.0 percent, from 1.5 percent, the website www.qcb.gov.qa showed, confirming earlier reports by three banking sources.

The overnight lending facility and the repo rate were also both reduced to 5.0 percent from the original 5.5 percent and 5.55 percent, respectively.

The central bank did not explain reasons for the rate reductions.