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SAMA decides to lower the Repo Rate and the Reverse Repo Rate
Saudi Press Agency Published in Saudi Press Agency on 19 - 01 - 2009


The Saudi Monetary Agency released a statement today saying "SAMA has been closely monitoring money market developments following its monetary measures taken since October 2008. Domestic money market rates have positively responded to monetary stimulus and the recent global easing in interbank rates. The current market conditions warrant a further adjustment of policy rates, which are currently misaligned. Against this backdrop, SAMA has decided to lower the Repo Rate from 2.50% to 2% and the Reverse Repo Rate from 1.50% to 75 bp, effective immediately. These measures should help to ensure that credit is available to genuine corporate demand at lower rates".

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