Riyadh-Mubasher: Saudi Arabian Monetary Agency (SAMA), the kingdom's central bank, has raised its benchmark reverse repurchase rate (repo) on Wednesday by 25 basis points to 50 basis points, the state's news agency reported.
The central bank left the repo rate unchanged, with the decision taking effect immediately, in light of developments in local and international financial markets.
The Federal Reserve hiked interest rate for the first time in nine years on Wednesday, which indicates that the U.S. economy overcame the wounds of 2007-2009 financial crisis.
