Wed Sep 18 19:07:00 UTC 2024: ## Qatar Central Bank Cuts Benchmark Interest Rate by 55 Basis Points

**Doha, Qatar – September 18, 2024** – The Qatar Central Bank (QCB) announced a significant reduction in its benchmark interest rate on Wednesday, lowering it by 55 basis points.

The decision was made after the Monetary Policy Committee assessed the current monetary policy landscape in Qatar, according to a QCB post on X (formerly Twitter).

Effective Thursday, September 19, 2024, the QCB’s new interest rates are as follows:
* **QCB Deposit Rate (QCBDR):** 5.20 percent
* **QCB Lending Rate (QCBLR):** 5.70 percent
* **Repo Rate:** 5.45 percent

This rate cut is expected to have a positive impact on the Qatari economy by stimulating lending and encouraging investment.

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