Qatar central bank raises interest rates by 75 bps –statement

DUBAI (Reuters) – Qatar’s central bank said on Wednesday it will raise its interest rates by 75 basis points as of Thursday, moving in parallel with the U.S. Federal Reserve’s third straight hike of that size.

The central bank increased its lending rate to 4.5%, the deposit rate to 3.75% and the repo rate to 4.0%, the central bank said in a statement.

(Reporting by Mahmoud Mourad and Alaa Swilam in Cairo; Writing by Rachna Uppal; Editing by Chris Reese)