The Central Bank of Qatar said on Wednesday it raised its main deposit rate by 75 basis points (bps) to 2.25%, moving in tandem with the U.S. Federal Reserve's largest hike since 1994. CBQ also raised its repo rate by 75 bps to 2.5% and lifted its lending rate by 50 bps to 3.25%, it said in a statement.

The Qatari rial, like most Gulf currencies, is pegged to the dollar.