The Saudi Central Bank (SAMA) reduced today, Dec. 18, its reverse repo rate by 25 basis points (bps) to 450 bps from 475 bps. 
Similarly, SAMA cut its repo rate by 25 bps to 500 bps from 525 bps.
In a statement, the central bank said this decision aligns with its objectives to maintain monetary stability and support financial stability.
The Federal Reserve reduced today the interest rate range by 25 bps, to a range between 4.25% and 4.50% compared to the previous range between 4.50% and 4.75%.
The US central bank had raised the rates 11 consecutive times, the last of which was in July 2023, setting the range between 5.25% and 5.50%. This rate was held steady for eight consecutive meetings until it was reduced for the first time in September by 50 bps, then by 25 bps in November.
SAMA follows the interest rate moves of the Fed due to the riyal-US dollar peg.
Changes inSaudi Arabia’s Repo, Reverse RepoRates
Date
ReverseRepo
Repo
Jan. 2009
25 bps
200 bps
Dec. 2015
50 bps (+25 bps)
200 bps
Dec. 2016
75 bps (+25 bps)
200 bps
March 2017
100 bps (+25 bps)
200 bps
June 2017
125 bps (+25 bps)
200 bps
Dec. 2017
150 bps (+25 bps)
200 bps
March 2018
175 bps (+25 bps)
225 bps (+25 bps)
June 2018
200 bps (+25 bps)
250 bps (+25 bps)
Sept. 2018
225 bps (+25 bps)
275 bps (+25 bps)
Dec. 2018
250 bps (+25 bps)
300 bps (+25 bps)
July 2019
225 bps (-25 bps)
275 bps (-25 bps)
Sept. 2019
200 bps (-25 bps)
250 bps (- 25 bps)
Oct. 2019
175 bps (-25 bps)
225 bps (-25 bps)
March 2020
125 bps (-50 bps)
175 bps (-50 bps)
50 bps (-75 bps)
100 bps (-75 bps)
March 2022
75 bps (+25 bps)
125 bps (+25 bps)
May 2022
125 bps (+50 bps)
175 bps (+50 bps)
June 2022
175 bps (+50 bps)
225 bps (+50 bps)
July 2022
250 bps (+75 bps)
300 bps (+75 bps)
September 2022
325 bps (+75 bps)
375 bps (+75 bps)
November 2022
400 bps (+75 bps)
450 bps (+75 bps)
December 2022
450 bps (+50 bps)
500 bps (+50 bps)
February 2023
475 bps (+25 bps)
525 bps (+25 bps)
March 2023
500bps (+25bps)
550bps (+25 bps)
May 2023
525bps (+25bps)
575bps (+25 bps)
July 2023
550bps (+25bps)
600bps (+25 bps)
September 2024
500bps (-50bps)
550bps (-50bps)
November 2024
475bps (-25bps)
525bps (-25bps)
December 2024
450bps (-25bps)
500bps (-25bps)
The Saudi Central Bank (SAMA) reduced today, Dec. 18, its reverse repo rate by 25 basis points (bps) to 450 bps from 475 bps.
Similarly, SAMA cut its repo rate by 25 bps to 500 bps from 525 bps.
In a statement, the central bank said this decision aligns with its objectives to maintain monetary stability and support financial stability.
The Federal Reserve reduced today the interest rate range by 25 bps, to a range between 4.25% and 4.50% compared to the previous range between 4.50% and 4.75%.
The US central bank had raised the rates 11 consecutive times, the last of which was in July 2023, setting the range between 5.25% and 5.50%. This rate was held steady for eight consecutive meetings until it was reduced for the first time in September by 50 bps, then by 25 bps in November.
SAMA follows the interest rate moves of the Fed due to the riyal-US dollar peg.
Changes inSaudi Arabia’s Repo, Reverse RepoRates
Date
ReverseRepo
Repo
Jan. 2009
25 bps
200 bps
Dec. 2015
50 bps (+25 bps)
200 bps
Dec. 2016
75 bps (+25 bps)
200 bps
March 2017
100 bps (+25 bps)
200 bps
June 2017
125 bps (+25 bps)
200 bps
Dec. 2017
150 bps (+25 bps)
200 bps
March 2018
175 bps (+25 bps)
225 bps (+25 bps)
June 2018
200 bps (+25 bps)
250 bps (+25 bps)
Sept. 2018
225 bps (+25 bps)
275 bps (+25 bps)
Dec. 2018
250 bps (+25 bps)
300 bps (+25 bps)
July 2019
225 bps (-25 bps)
275 bps (-25 bps)
Sept. 2019
200 bps (-25 bps)
250 bps (- 25 bps)
Oct. 2019
175 bps (-25 bps)
225 bps (-25 bps)
March 2020
125 bps (-50 bps)
175 bps (-50 bps)
50 bps (-75 bps)
100 bps (-75 bps)
March 2022
75 bps (+25 bps)
125 bps (+25 bps)
May 2022
125 bps (+50 bps)
175 bps (+50 bps)
June 2022
175 bps (+50 bps)
225 bps (+50 bps)
July 2022
250 bps (+75 bps)
300 bps (+75 bps)
September 2022
325 bps (+75 bps)
375 bps (+75 bps)
November 2022
400 bps (+75 bps)
450 bps (+75 bps)
December 2022
450 bps (+50 bps)
500 bps (+50 bps)
February 2023
475 bps (+25 bps)
525 bps (+25 bps)
March 2023
500bps (+25bps)
550bps (+25 bps)
May 2023
525bps (+25bps)
575bps (+25 bps)
July 2023
550bps (+25bps)
600bps (+25 bps)
September 2024
500bps (-50bps)
550bps (-50bps)
November 2024
475bps (-25bps)
525bps (-25bps)
December 2024
450bps (-25bps)
500bps (-25bps)
