Qatar, which pegs its currency to the U.S. dollar, slashed key interest rates by up to 50 basis points for the second time since April on Wednesday, a day after the U.S. Federal Reserve pledged to keep U.S. rates low for at least two more years.
The cuts, which brought the main overnight deposit rate to 0.75 percent from 1 percent, followed an April policy measure aimed at stimulating banking activities and boosting lending to the private sector.
The overnight lending facility and the repo rate were both cut to 4.5 percent from 5 percent previously, the central bank website showed on Wednesday. (www.qcb.gov.qa)
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