The Saudi Central Bank (SAMA) lifted today, July 26, its reverse repo rate by 25 basis points (bps) from 525 bps to 550 bps (5.50%). It also raised its repo rate by 25 bps to 600 bps from 575 bps (6%).
The move aligns with SAMA’s goals to maintain monetary stability and support financial stability.
The Federal Reserve hiked its key interest rate at the range of 5.25% and 5.50%, from the previous range of 5% and 5.25%.
The US central bank earlier raised interest rates for 10 consecutive times, the last of which was in May.
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)
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)
February 2023
475 bps (+25 bps)
525 bps (+25 bps)
March 2023
500 bps (+25 bps)
550 bps (+25 bps)
May 2023
525 bps (+25 bps)
575 bps (+25 bps)
June 2023
550 bps (+25 bps)
600 bps (+25 bps)
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