Type of Intervention: Financial markets and monetary policy
Level of Jurisdiction: National
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