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%.
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Changes in Saudi Arabia’s Repo, Reverse Repo rates |
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|
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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