S. Arabia cuts rates by 25 bps

The Saudi Central Bank (SAMA) has lowered the Repurchase Agreement (Repo) rate by 25 basis points to 4.75 per cent and the Reverse Repurchase Agreement (Reverse Repo) rate by 25 basis points to 4.25 per cent.

According to SAMA’s statement, the move comes amid global economic developments and aims to maintain monetary stability.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser