The Saudi Arabian Monetary Agency announced on June 1st it would provide SAR 50 billion or USD 13.3 billion to support liquidity in the banking sector, as the economy suffers from low oil prices and disruptions in activity caused by the coronavirus pandemic. The central bank also noted that "the banking sector is still recording good performance indicators, which enhances its ability to face challenges and crises". In March, the SAMA had slashed its repo rate by 75bps to 1 percent, aiming to protect the economy from the negative impact of the Covid-19.
Interest Rate in Saudi Arabia averaged 3.62 percent from 1992 until 2020, reaching an all time high of 7 percent in May of 2000 and a record low of 1 percent in March of 2020. This page provides the latest reported value for - Saudi Arabia Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Saudi Arabia Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: Saudi Arabian Monetary Agency
Interest Rate in Saudi Arabia is expected to be 1.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Saudi Arabia to stand at 1.00 in 12 months time. In the long-term, the Saudi Arabia Interest Rate is projected to trend around 1.00 percent in 2021, according to our econometric models.