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Saudi Arabia cuts interest rates by 0.5%

Saudi Arabia cuts interest rates by 0.5%
Saudi Arabian Monetary Authority

Riyadh – Mubasher: The Saudi Arabian Monetary Authority (SAMA) has decided to cut the REPO rate by 50 basis points (0.5%) from 2.25% to 1.75%.

Moreover, the REVERSE REPO rate has been reduced from 1.75% to 1.25%.

The decision comes in light of global developments, according to a statement by SAMA on Tuesday following a similar move by the US Federal Reserve.