Following US Fed, Saudi Central Bank cuts “reverse repo” and “repo” rates by 25 bps

The Saudi Central Bank decided to reduce the repurchase agreement “repo” rate by 25 basis points to 5.25%, and reduce the reverse repurchase agreement “reverse repo” rate by 25 basis points to 4.75%.

The Saudi Central Bank said that this comes in light of global developments, and in accordance with the central bank’s goal of maintaining monetary stability.

The Federal Reserve (US Central Bank) reduced the interest rate today, Thursday, for the second time in a row during 2024, by 25 basis points, so that it now ranges between 4.5 and 4.75%.

It is noteworthy that the US Federal Reserve reduced its interest rate in September 2024 for the first time since 2020, by 50 basis points, so that it now ranges between 4.75 and 5%.