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- Dubai 05:07 06:22 12:05 15:16 17:42 18:57
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Qatar, which pegs its riyal to the dollar, cut its deposit facility rate by 50 basis points but left its benchamrk lending rate unchanged on Thursday after a US rate cut a day earlier. The deposit rate fell to 3 per cent from 3.5 per cent while the benchmark lending facility rate was unchanged at 5.5 per cent, a central bank official said. The repurchase rate was unchanged at 5.55 per cent, the official said. The Fed reduced its benchmark by half a percentage point on Wednesday, its second rate cut in eight days, as part of an ongoing effort to halt a sharp slowdown in an economy hit by a housing slump and a credit crunch. (Reuters) |
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