The Saudi Central Bank lifted its repo and reverse repo rates by 50 bps to 2.25% and 1.75%, respectively
PHOTO
The Saudi Central Bank said on Wednesday it increased its key interest rates by 50 basis points after the U.S. Federal Reserve made its biggest rate hike since 1994, at three-quarters of a percentage point.
The Saudi Central Bank, also known as SAMA, lifted its repo and reverse repo rates by 50 bps to 2.25% and 1.75%, respectively. The Saudi riyal is pegged to the dollar.
(Reporting by Yasmin Hussein in Cairo; Writing by Yousef Saba in Dubai; Editing by Leslie Adler)
Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.
© ZAWYA 2024
