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  • 16-06-22

    Saudi Central Bank increases key interest rates due to domestic, global developments

    (MENAFN) On Wednesday, the Saudi Central Bank increased key interest rates corresponding to domestic and global developments and to sustain monetary and economic constancy, an official stated in an announcement issued on Wednesday.

    The central bank, also famous as SAMA, has chosen to hike the repurchase agreement (repo) rate by 0.5 percent to 2.25 percent from a prior 1.75 percent, and the reverse repurchase contract (reverse repo) rate by 0.5 percent to 1.75 percent from a prior 1.25 percent.

    The raise came after the hike in the US Federal Reserve main price on the same day.

    The US central bank increased the main borrowing price by 0.75 percentage points, more than the announced 0.5-percentage-point rise after economic data in latest days presented inflation reinforcement and consumer confidence failing.

    MENAFN16062022000045014228ID1104383572

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