SAMA cuts repo, reverse repo rates by 50 bps

The Saudi Arabian Monetary Authority (SAMA) lowered its repo rate from 225 basis points (bps) to 175 bps, and its reverse repo rate from 175 bps to 125 bps with immediate effect.

The move came after the US Federal Reserve had cut interest rates in an emergency move designed to shield the world’s largest economy from the impact of the coronavirus.

The Fed cut policy rates by a half percentage point to a target range of 1.00% to 1.25%.

Changes in Saudi Arabia’s Repo, Reverse Repo rates
Date	Reverse repo rate	Repo rate
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)
October 2019	175 bps (-25 bps)	225 bps (-25 bps)
March 2020	125 bps (-50 bps)	175 bps (-50 bps)

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