The Saudi Central Bank raised its repo rate by 25 bps to 5.75% in its May 2023 meeting, following in lockstep with the Federal Reserve’s decision. Saudi Arabia typically follows the US central bank policy because the Riyal is pegged to the dollar. Also, the bank hiked the reverse repo rate by 25 basis points to 5.25 percent. source: Saudi Arabian Monetary Agency
Interest Rate in Saudi Arabia averaged 3.51 percent from 1992 until 2023, reaching an all time high of 7.00 percent in May of 2000 and a record low of 1.00 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 Repo Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2023.
Interest Rate in Saudi Arabia is expected to be 5.75 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Saudi Arabia Repo Rate is projected to trend around 4.75 percent in 2024 and 3.75 percent in 2025, according to our econometric models.