SAMA Repo Rate in Saudi Arabia
Saudi Arabia's central bank policy rates from 2013 to 2022 largely mirrored the US Federal Reserve's decisions, due to the Riyal's peg to the US Dollar. This led to a period of low interest rates early in the decade. However, from 2016 onwards, as the Fed started raising rates, Saudi Arabia followed suit. The rates were cut again in 2020 in response to the COVID-19 pandemic's economic impact. By 2022, the rates began to rise again in line with the Fed.
The SAMA Repo Rate ended 2022 at 5.00%, up from the 1.00% end-2021 value and up from the reading of 2.00% a decade earlier. For reference, the average policy rate in the Middle East & North Africa was 5.80% at the end of 2022. For more interest rate information, visit our dedicated page.
Saudi Arabia Interest Rate Chart
Note: This chart displays Policy Interest Rate (%) for Saudi Arabia from 2014 to 2023.
Source: Macrobond.
Saudi Arabia Interest Rate Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| SAMA Repo Rate (%, eop) | 2.25 | 1.00 | 1.00 | 5.00 | 6.00 |
| SAMA Reverse Repo Rate (%, eop) | 1.75 | 0.50 | 0.50 | 4.50 | 5.50 |
| 3-Month Interbank Rate (%, eop) | 2.24 | 0.82 | 0.87 | 5.28 | 6.32 |
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