Qatar’s Central Bank cuts interest rate by quarter b.p.
The Central Bank of Qatar announced on Thursday, August 23, a 0.25 percentage points cut in the short-term interest rates, as it presently stands at 4 percent. The last interest rate cut, by a quarter point as well, was in July, according to AFP news agency.
The interest rate cut followed that of the US Federal Reserve’s, which cut on Tuesday, for the seventh time this year, the interest rate by a quarter point to 3.25 percent.
The central bank’s move was aimed at enhancing the State’s economy, by boosting the real estate market and stimulating the country’s stock market.
In accordance with the US’s interest rate policy, Kuwait reduced its discount rate by a 0.25 percentage points to 5.25 percent on Wednesday also to boost the Gulf State’s economic activity. — (Mena Report)
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