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.

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Saudi Arabia Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
1.00 1.00 7.00 1.00 1992 - 2020 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2019-09-18 08:00 PM 2.50% 2.75% 2.5%
2019-10-30 07:00 PM 2.25% 2.50% 2.25%
2020-03-03 05:50 PM 1.75% 2.25%
2020-03-16 11:30 AM 1% 1.75%


News Stream
Saudi Arabia Cuts Rates by 75bps
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.
2020-03-16
Gulf Central Banks Cut Rates after Fed Move
Central banks in Saudi Arabia, the United Arab Emirates and other Gulf states slashed interest rates following an emergency move by the US Federal Reserve on Tuesday aiming to support the economy as the escalation of the Covid-19 outbreak hurts business activity and household demand. Policymakers in Saudi Arabia, the UAE and Bahrain delivered a 50bps rate cut, the same margin as the Fed, while Qatar's central bank cut rates by a wider 75bps. Meanwhile, Kuwait's officials lowered interest rates by just 25bps.
2020-03-04
Saudi Arabia Cuts Repo Rate
The Saudi Arabian Monetary Agency slashed its repo rate by 50bps to 1.75 percent on March 3rd 2020, after US policymakers cut its target range by the same margin. The reverse repo rate was also lowered by 50bps to 1.25%. Policy Rate adjustments are consistent with SAMA's objective of maintaining monetary stability.
2020-03-03
Saudi Arabia Trims Rate to 2.25%
The Saudi Arabian Monetary Agency cuts its repo rate by 25bps to 2.25 percent during its October meeting, after US policymakers cut its target range by the same margin. Policy Rate adjustments are consistent with SAMA's objective of maintaining monetary stability.
2019-10-30

Saudi Arabia Interest Rate
In Saudi Arabia the interest rates decisions are taken by the Saudi Arabian Monetary Agency (SAMA). Central bank official interest rate is the Official Repo Rate (ORR).