Saudi Arabia’s central bank on Wednesday increased its reverse repo rate by 25 basis points to 2 percent from 1.75 percent.
It also raised its repo rate, at which it lends to banks, by 25 basis point to 2.5 percent.
This came following the U.S. Federal Reserve’s decision to raise its target range for the federal funds interest rate by a quarter point, to between 1.75 percent and 2 percent.
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Changes in Saudi Arabia’s Repo, Reverse Repo rates |
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Date |
Reverse repo rate |
Repo rate |
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Jan. 2009 |
25 bps |
200 bps |
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Dec. 2015 |
50 bps (+25 bps) |
200 bps |
|
Dec. 2016 |
75 bps (+25 bps) |
200 bps |
|
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 |
|
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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