Taking cue from the US Federal Reserve, the Qatar Central Bank (QCB) has hiked its key reference rates by 0.25% to 0.5% in view of the riyal's fixed exchange parity with the greenback. The QCB decided to raise the deposit rate by 50 basis points to 1.50% and repurchase (repo) rate by 0.5%. The central bank also decided to raise the lending rate by 25 basis points to 2.75%. All Gulf countries have their currencies pegged to the US dollar, except Kuwait, which pegs the Kuwaiti dinar to a basket of currencies that includes the dollar. The rate hike follows the moves by the Fed, which on Wednesday voted unanimously to increase the benchmark rate by a half percentage point. The biggest interes
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