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Saudi Central Bank Slashes Interest Rates - ASHARQ AL-AWSAT English Archive
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RIYADH, (Reuters) – The Saudi Arabian Monetary Agency (SAMA) slashed key interest rates on Monday, reducing its benchmark repurchase rate to 2 percent from 2.5 percent and its reverse repurchase rate to 0.75 percent from 1.5 percent.

“Domestic money market rates have positively responded to monetary stimulus and the recent global easing in interbank rates,” Bankers in Riyadh and Dubai said, reading from a SAMA circular.

“The current market conditions warrant a further adjustment of policy rates which are currently misaligned. In view of this backdrop, SAMA has decided to lower the repo rate … and the reverse repo rate effective immediately.”

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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