Saudi Central Bank Cuts Interest Rate By 25 Basis Points
Date
11/7/2024 7:09:50 PM
(MENAFN- Kuwait News Agency (KUNA))
RIYADH, Nov 7 (KUNA) -- The Saudi Central bank (SAMA) decided to lower the Repurchase Agreement (Repo) rate by 25 basis points to 5.25 percent, and the Reverse Repurchase Agreement (Reverse Repo) rate by 25 basis points to 4.75 percent.
The move is in keeping with global developments, and in accordance with the Bank's objective of maintaining monetary stability, a SAMA statement noted on Thursday. (end)
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