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Press Dossier   News Category    Others    ‏Saudi Central Bank rises interest rates by 50 bps

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. 

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