Saudi Arabian Monetary Authority cut the Repo rate

Saudi Arabian Monetary Authority cut the Repo rate

The Saudi Arabian Monetary Authority (SAMA) has decided to cut the Repo rate by 75 basis points from 1.75% to 1.00 % and the Reverse Repo rate by 75 basis points from 1.25% to 0.50%.

The reduction in repo rates is for preserving monetary stability given evolving global developments.