Logo of Saudi Central Bank
The Saudi Central Bank (SAMA) decided to raise its reverse repo rate from 75 bps to 125 bps and the repo rate to 175 basis points (bps) from 125 bps.
The US Federal Reserve raised, today, May 4, interest rates by 50 basis points (bps)to range between 0.75% and 1%.
Today’s rate hike is the second this year, as the central bank raised rates in March.
SAMA follows the interest rate moves of the US Federal Reserve due to the riyal-US dollar peg.
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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) |
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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) |
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March 2020 |
125 bps (-50 bps) |
175 bps (-50 bps) |
|
50 bps (-75 bps) |
100 bps (-75 bps) |
|
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March 2022 |
75 bps (+25 bps) |
125 bps (+25 bps) |
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May 2022 |
125 bps (+50 bps) |
175 bps (+50 bps) |
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