Arab
News, Thursday, Dec 15, 2022 | Jamadi Al Awwal 21, 1444
AH
Saudi Central Bank rises interest rates by 50 bps
RIYADH: The Saudi Central Bank, known as SAMA, raised the Repo rate by 50 basis
points to 5 percent, following the US Federal Reserve's move to increase the
rates by an expected 50 basis points.
SAMA also increased the rate of Reverse Repo by 50 basis points to 4.50 percent.
It said this decision is in line with the central bank’s objectives of
maintaining monetary stability and supporting financial stability.