Riyadh - Mubasher: The Saudi Arabian Monetary Authority (SAMA) has decided on Wednesday to raise its repo rate from 275 (2.75%) basis points to 300 basis points (3.00%).
The reverse repo rate has also been increased from 225 basis points (2.25) to 250 basis points (2.5%) with immediate effect.
Policy rate adjustments are consistent with preserving monetary stability, according to an official statement.
The United States Federal Reserve announced earlier its decision to raise interest rates by 0.25% to a range between 2.25% to 2.5%, a move that was highly expected.
