Logo of the Saudi Central Bank (SAMA)
The Saudi Central Bank (SAMA) raised today, Dec. 14, its reverse repo rate by 50 basis points (bps) to 450 bps from 400 bps (4.5%).
It also hiked its repo rate by 50 bps to 500 bps (5%) from 450 bps.
The Federal Reserve lifted interest rates today by 50 bps to a range of 4.25%-4.50%, from 4% and 3.75%.
Today's rate hike is the seventh this year, as the central bank raised rates in March, May, June, July, September and November.
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 |
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) |
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Dec. 2018 |
250 bps (+25 bps) |
300 bps (+25 bps) |
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July 2019 |
225 bps (-25 bps) |
275 bps (-25 bps) |
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Sept. 2019 |
200 bps (-25 bps) |
250 bps (- 25 bps) |
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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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June 2022 |
175 bps (+50 bps) |
225 bps (+50 bps) |
|
July 2022 |
250 bps (+75 bps) |
300 bps (+75 bps) |
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September 2022 |
325 bps (+75 bps) |
375 bps (+75 bps) |
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November 2022 |
400 bps (+75 bps) |
450 bps (+75 bps) |
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December 2022 |
450 bps (+50 bps) |
500 bps (+50 bps) |
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