(MENAFN- Saudi Press Agency)
Riyadh, Muharram 16, 1440, September 26, 2018, SPA -- Saudi Arabian Monetary Authority (SAMA) decided to raise its reverse repo rate from 200 basis points to 225 basis points and its repo rate from 250 basis points to 275 basis points, effective immediately.
The objective of policy rate adjustment is to maintain monetary stability amid global financial market developments.
Meanwhile, SAMA will continue to monitor and manage domestic system liquidity to ensure its adequate availability for smooth banking operations as well as to meet the domestic economic needs.
--SPA
23:10 LOCAL TIME 20:10 GMT
0053
MENAFN2609201800780000ID1097493668
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.