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Saudi central bank increases key rates by 75 bps

Saudi central bank increases key rates by 75 bps

Reuters · 07/27/2022 15:02
Saudi central bank increases key rates by 75 bps

- The Saudi Central Bank said on Wednesday it increased its key interest rates by 75 basis points, moving in tandem with the U.S. Federal Reserve's hike as the Saudi riyal is pegged to the dollar.

The Saudi Central Bank, also known as SAMA, lifted its repo and reverse repo rates by 75 bps to 3% and 2.5%, respectively.



(Reporting by Yasmin Hussein in Cairo; Writing by Yousef Saba in Dubai)

((Yousef.Saba@thomsonreuters.com; +971562166204; https://twitter.com/YousefSaba))