16 March 2020 – Cut interest rates from 1.75% to 1.00%

This item is sourced from COVID-19 Policy Watch co-ordinated by Policy. We are in the process of gathering further information and aligning taxonomies for these items.

Type of Intervention: Financial markets and monetary policy
Sectors Involved:
Level of Jurisdiction: National
Lead People/Agency:

Overview: The Saudi Arabian Monetary Authority has decided to cut the REPO rate by 75 basis points from 1.75% to 1.00 % and the Reverse Repo rate by 75 basis points from 1.25% to 0.50%.

The reduction in repo rates is for preserving monetary stability given evolving global developments.
Full details here: http://www.sama.gov.sa/en-US/News/Pages/news-518.aspx