The Saudi Arabian Monetary Authority (SAMA) lowered its repo rate from 225 basis points (bps) to 175 bps, and its reverse repo rate from 175 bps to 125 bps with immediate effect.

 

The move came after the US Federal Reserve had cut interest rates in an emergency move designed to shield the world’s largest economy from the impact of the coronavirus.

 

The Fed cut policy rates by a half percentage point to a target range of 1.00% to 1.25%.

 

Changes in Saudi Arabia’s Repo, Reverse Repo rates

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)

July 2019

225 bps (-25 bps)

275 bps (-25 bps)

Sept. 2019

200 bps (-25 bps)

250 bps (-25 bps)

October 2019

175 bps (-25 bps)

225 bps (-25 bps)

March 2020

125 bps (-50 bps)

175 bps (-50 bps)

 

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