Oman c. bank cuts repo rate by 25 basis points

The Central Bank of Oman (CBO) has decreased its repo rate for local banks by 25 basis points to 5.00 per cent, taking effect on Thursday. The CBO’s monetary policy target is to sustain its fixed exchange rate, a policy aligned with the structure and nature of the Omani economy.

This approach offers several advantages to the Sultanate of Oman, including currency stability, the avoidance of irregular capital movements across borders, stimulation of economic activity through lower domestic funding costs, and the promotion of investor certainty by removing exchange rate risk.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama