SAMA hikes reverse repo, repo rates by 75 basis points each

27/07/2022 Argaam
Logo ofThe Saudi Central Bank (SAMA)

Logo of The Saudi Central Bank (SAMA)

The Saudi Central Bank (SAMA) raised its reverse repo rate by 75 basis points (bps) to 250 bps (2.50%) from 175 bps. It also lifted its repo rate to 300 bps (3.00 %) from 225 bps.

 

The US Federal Reserve raised today, July 27, policy rates by 75 bps to range between 1.75% and 2.50 %.
 

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

 

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

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