The Saudi Arabian Monetary Agency slashed its repo rate by 75bps to 1 percent on March 16th 2020, a day after US policymakers cut its target range by another 100bps to protect the economy from the negative impact of the rapid spread of Covid-19. The reverse repo rate was also lowered by 75bps to 0.5 percent. Policy Rate adjustments are consistent with SAMA's objective of maintaining monetary stability.
Interest Rate in Saudi Arabia averaged 3.63 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 May of 2020. source: Saudi Arabian Monetary Agency
Interest Rate in Saudi Arabia is expected to be 0.75 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 0.75 in 12 months time. In the long-term, the Saudi Arabia Interest Rate is projected to trend around 1.00 percent in 2021 and 1.50 percent in 2022, according to our econometric models.