Saudi Central Bank Left Interest Rates Unchanged

Saudi Arabia’s central bank has decided to keep its key interest rates unchanged in June, as it still sees inflationary pressure in the short to medium term under control.

The Saudi Arabian Monetary Agency held its overnight reverse repo rate at 0.25 per cent this month, and the benchmark repurchase rate at two per cent, persons familiar with the matter said.

Saudi Arabia’s annual rate of inflation edged down to 5.3 per cent in April, from 5.4 per cent in March, mainly due to lower food prices, data from the Central Department of Statistics and Information showed last month, Khaleej Times reported.