SAMA raises reverse repo, repo rates by 50 basis points

Logo of the Saudi Central Bank (SAMA)

The Saudi Central Bank (SAMA) raised today, Dec. 14, its reverse repo rate by 50 basis points (bps) to 450 bps from 400 bps (4.5%).

It also hiked its repo rate by 50 bps to 500 bps (5%) from 450 bps.

The Federal Reserve lifted interest rates today by 50 bps to a range of 4.25%-4.50%, from 4% and 3.75%.

Today's rate hike is the seventh this year, as the central bank raised rates in March, May, June, July, September and November.

SAMA follows the interest rate moves of the US Federal Reserve due to the riyal-US dollar peg.

Changes in Saudi Arabia’s Repo, Reverse Repo Rates
Date	Reverse Repo	Repo
Jan. 2009	25 bps	200 bps
Dec. 2015	50 bps (+25 bps)	200 bps
Dec. 2016	75 bps (+25 bps)	200 bps
March 2017	100 bps (+25 bps)	200 bps
June 2017	125 bps (+25 bps)	200 bps
Dec. 2017	150 bps (+25 bps)	200 bps
March 2018	175 bps (+25 bps)	225 bps (+25 bps)
June 2018	200 bps (+25 bps)	250 bps (+25 bps)
Sept. 2018	225 bps (+25 bps)	275 bps (+25 bps)
Dec. 2018	250 bps (+25 bps)	300 bps (+25 bps)
July 2019	225 bps (-25 bps)	275 bps (-25 bps)
Sept. 2019	200 bps (-25 bps)	250 bps (- 25 bps)
Oct. 2019	175 bps (-25 bps)	225 bps (-25 bps)
March 2020	125 bps (-50 bps)	175 bps (-50 bps)
March 2020	50 bps (-75 bps)	100 bps (-75 bps)
March 2022	75 bps (+25 bps)	125 bps (+25 bps)
May 2022	125 bps (+50 bps)	175 bps (+50 bps)
June 2022	175 bps (+50 bps)	225 bps (+50 bps)
July 2022	250 bps (+75 bps)	300 bps (+75 bps)
September 2022	325 bps (+75 bps)	375 bps (+75 bps)
November 2022	400 bps (+75 bps)	450 bps (+75 bps)
December 2022	450 bps (+50 bps)	500 bps (+50 bps)

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