August 11, 2022

Saudi Arabia’s central financial institution mentioned on Wednesday it had raised key rates of interest by 50 foundation factors, following an analogous transfer by the US Federal Reserve, which seeks to curb inflation at multi-year highs.

The Central Financial institution of Saudi Arabia mentioned it had determined to boost the repurchase settlement (REPO) price and the reverse repurchase settlement (reverse repo) price by half a proportion level to 1.75 % and 1.25 %, respectively.

He added that the transfer “is in step with the Saudi Central Financial institution’s aim of sustaining financial and monetary stability.”

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