Saudi Arabia’s central bank on Wednesday increased its reverse repo rate by 25 basis points to 2 percent from 1.75 percent.

 

It also raised its repo rate, at which it lends to banks, by 25 basis point to 2.5 percent.

 

This came following the U.S. Federal Reserve’s decision to raise its target range for the federal funds interest rate by a quarter point, to between 1.75 percent and 2 percent.

 

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)

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