SAMA hikes reverse repo to 125 bps, repo to 175 bps

Logo of Saudi Central Bank

The Saudi Central Bank (SAMA) decided to raise its reverse repo rate from 75 bps to 125 bps and the repo rate to 175 basis points (bps) from 125 bps.

The US Federal Reserve raised, today, May 4, interest rates by 50 basis points (bps)to range between 0.75% and 1%.

Today’s rate hike is the second this year, as the central bank raised rates in March.

SAMA follows the interest rate moves of the US Federal Reserve due to the riyal-US dollar peg.

Changes in Saudi Arabia’s Repo, Reverse Repo rates
Date	Reverse repo rate	Repo rate
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)
March 2020	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)

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