Qatar central bank raises deposit rate to 4.5%

(Reuters) – Qatar’s central bank said on Wednesday it will increase its interest rates by between 50 and 75 basis points, following the U.S. Federal Reserve’s latest rate hike.

The Central Bank of Qatar increased its deposit and repo rates by 75 basis points to 4.5% and 4.75% respectively, and its lending rate by 50 basis points to 5%, effective Thursday, it said in a statement.

(Reporting by Mahmoud Mourad)