Saudi central bank raises reverse repo and repo rates by 75 basis points

The Saudi Central Bank has decided to increase the repo rate by 75 basis points to 4.5% and the reverse repo rate by 75 basis points to 4.00%.

The Central Bank stated that this decision is in in line with its goal of maintaining monetary and financial stability.

And “repo” is a term that means the return of the purchase option between the central bank and the banks, and more precisely it is a form of short-term loan: depositing your money with the central bank.

The US Federal Reserve’s Open Market Committee announced today Wednesday that it will raise federal funds interest rates by 75 basis points to reach a range of 3.75% to 4%, the highest level since. early 2008. He indicated a possible change in the way in which deals with monetary policy to reduce inflation

The decision was part of the rigid policy approach adopted by the Central Bank of the United States to deal with inflation rates record.

The consumer price inflation rate in September was 8.2% yoy.

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