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Saudi Central Bank raises repo and reverse repo rates by 25 basis points

Bynewshuntexpress

Jul 27, 2023


RIYADH —The Saudi Central Bank (SAMA) decided to raise the rates of the Repurchase Agreement (Repo) and Reverse Repurchase Agreement (Reverse Repo) by 25 basis points to 6 percent and 5.50 percent respectively.

These decisions are in line with SAMA’s mandate of preserving monetary stability.

The US Federal Reserve announced a quarter-point hike in the main interest rate. This move pushed the federal funds rate into a range of 5.25% to 5.5%, which is the highest level in 22 years. — SG/SPA

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