SAMA ups reverse repo, repo rates by 25 bps

03/05/2023 Argaam
Logo ofSaudi Central Bank (SAMA)

Logo of Saudi Central Bank (SAMA)


The Saudi Central Bank (SAMA) announced today, May 3, hiking its reverse repo rate by 25 basis points (bps) from 500 bps to 525 bps (5.25%).

 

Repo rate was also raised by 25 bps to 575 bps from 550 bps (5.75%).

 

The rate hike aligns with SAMA’s goals to maintain monetary stability and support financial stability.

 

The Federal Reserve lifted today interest rates by 25 bps to a range of 5-5.25%, from 4.75-5%.

 

The US central bank earlier raised interest rates nine consecutive times, the last of which was in March.

 

SAMA follows the interest rate moves of the US Federal Reserve due to the riyal-US dollar peg.

 

Changes in Saudi Arabia’s Repo, Reverse Repo Rates

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)

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)

Oct. 2019

175 bps (-25 bps)

225 bps (-25 bps)

March 2020

125 bps (-50 bps)

175 bps (-50 bps)

50 bps (-75 bps)

100  bps (-75 bps)

March 2022

75 bps (+25 bps)

125  bps (+25 bps)

May 2022

125 bps (+50 bps)

175 bps (+50 bps)

June 2022

175 bps (+50 bps)

225 bps (+50 bps)

July 2022

250 bps (+75 bps)

300 bps (+75 bps)

September 2022

325 bps (+75 bps)

375 bps (+75 bps)

November 2022

400 bps (+75 bps)

450 bps (+75 bps)

December 2022

450 bps (+50 bps)

500 bps (+50 bps)

February 2023

475 bps (+25 bps)

525 bps (+25 bps)

March 2023

500 bps (+25 bps)

550 bps (+25 bps)

May 2023

525 bps (+25 bps)

575 bps (+25 bps)

 

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