Qatar central bank cuts deposit rates by 50 bps

It also cut the repo rate by 50 bps to 1.5% and lending rates by 75 bps to 3.5%.

  

DUBAI - Qatar's central bank said on Wednesday it was cutting deposit rates by 50 basis points (bps) to 1.5%, a day after the U.S. Federal Reserve's emergency policy rate cut.

It also cut the repo rate by 50 bps to 1.5% and lending rates by 75 bps to 3.5%.

Saudi Arabia, the United Arab Emirates and Bahrain cut key interest rates on Tuesday, tracking an emergency move taken by the Fed to soften the impact of the coronavirus outbreak.

(Reporting by Davide Barbuscia; Editing by Saeed Azhar) ((Davide.Barbuscia@thomsonreuters.com; +971522604297; Reuters Messaging: davide.barbuscia.reuters.com@reuters.net))

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