Saudi Arabia's Central Bank Cuts Interest Rate by 25 Basis Points

The Saudi Arabian Monetary Authority (SAMA) has reduced the benchmark repo and reverse repo interest rates by 25 basis points. According to the announcement from SAMA, the repo rate has been lowered from 5.25% to 5.00%, and the reverse repo rate has been reduced from 4.75% to 4.50%. SAMA closely monitors the interest rate movements of the U.S. Federal Reserve (Fed) in its interest rate decisions.