The Saudi Central Bank has decided to reduce the repurchase agreement (repo) rate by 50 basis points to 5.50%, and the reverse repurchase agreement (reverse repo) rate by 50 basis points to 5.00%.
This decision aligns with the Saudi Central Bank’s goal of maintaining monetary stability.
Other Gulf central banks (the UAE, Bahrain, Qatar, and Kuwait) followed suit with the U.S. Federal Reserve’s moves by lowering interest rates.
Related Topics :
Saudi Central Bank: Tourism revenues increase in 1st Q of 2023
Decline in Saudi Central Bank’s Foreign Assets in October 2023
Saudi Central Bank Issues Rules for Regulating (BNPL) Companies
World Bank Selects Saudi Arabia as Economic Reform Knowledge Hub
Short link :