Logo of the Saudi Central Bank (SAMA)
The Saudi Central Bank (SAMA) raised today, Feb. 1, its reverse repo rate by 50 basis points (bps) to 475 bps from 450 bps (4.75%).
It also hiked its repo rate by 25 bps to 525 bps (5.25%) from 500 bps.
The Federal Reserve lifted interest rates today by 25 bps to a range of 4.50% and 4.75%, from the previous range of 4.25% and 4.50%.
Rates were lifted seven times in 2022, during 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 |
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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) |
|
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) |
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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) |
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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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February 2023 |
475 bps (+25 bps) |
525 bps (+25 bps) |
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