Saudi Central Bank Hike Rates to Preserve Monetary Stability

Riyad May 4 2023: Consistent with its mandate of preserving monetary stability, the Saudi Central Bank has decided to raise the rate of Repurchase Agreement (Repo) by 25 basis points to 5.75 percent, and the rate of Reverse Repurchase Agreement (Reverse Repo) by 25 basis points to 5.25 percent.