SAMA slashes reverse repo, repo rates by 25 bps

The Saudi Central Bank (SAMA) reduced today, Dec. 18, its reverse repo rate by 25 basis points (bps) to 450 bps from 475 bps.

Similarly, SAMA cut its repo rate by 25 bps to 500 bps from 525 bps.

In a statement, the central bank said this decision aligns with its objectives to maintain monetary stability and support financial stability.

The Federal Reserve reduced today the interest rate range by 25 bps, to a range between 4.25% and 4.50% compared to the previous range between 4.50% and 4.75%.

The US central bank had raised the rates 11 consecutive times, the last of which was in July 2023, setting the range between 5.25% and 5.50%. This rate was held steady for eight consecutive meetings until it was reduced for the first time in September by 50 bps, then by 25 bps in November.

SAMA follows the interest rate moves of the Fed 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)
March 2020	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)
July 2023	550 bps (+25 bps)	600 bps (+25 bps)
September 2024	500 bps (-50 bps)	550 bps (-50 bps)
November 2024	475 bps (-25 bps)	525 bps (-25 bps)
December 2024	450 bps (-25 bps)	500 bps (-25 bps)

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