Logo of Saudi Central Bank (SAMA)
The Saudi Central Bank (SAMA) raised its reverse repo rate by 50 basis points (bps) to 175 bps from 125 bps. It also lifted its repo rate to 225 bps (2.25%) from 175 bps.
Today's rate hike is the third this year, as the central bank raised rates in March and May.
The US Federal Reserve raised on June 15, policy rates by 75 bps to range between 1.5% and 1.75%.
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 |
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Dec. 2015 |
50 bps (+25 bps) |
200 bps |
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Dec. 2016 |
75 bps (+25 bps) |
200 bps |
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March 2017 |
100 bps (+25 bps) |
200 bps |
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June 2017 |
125 bps (+25 bps) |
200 bps |
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Dec. 2017 |
150 bps (+25 bps) |
200 bps |
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March 2018 |
175 bps (+25 bps) |
225 bps (+25 bps) |
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June 2018 |
200 bps (+25 bps) |
250 bps (+25 bps) |
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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) |
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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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