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# SAMA Cuts Saudi Repo Rate by 50 Basis Points to 5.50%, Mirroring Federal Reserve
- URL: https://www.theglobalbanker.com/sama-cuts-saudi-repo-rate-50-basis-points-5-50-mirroring-federal-reserve/
- Published: 2024-09-18T19:30:00.000Z
- Updated: 2026-11-02T03:03:05.000Z
- Description: The Saudi Central Bank cut its repo rate by 50bps to 5.50% and its reverse repo rate to 5.00%, directly tracking the Federal Reserve's move given the riyal's fixed dollar peg.
- Author: TGB Editorial Team
- Tags: Central Banks, MENA, #archive

The Saudi Central Bank, known as SAMA, cut its repo rate by 50 basis points to 5.50% on Wednesday, moving in lockstep with the United States Federal Reserve. SAMA simultaneously lowered its reverse repo rate from 5.50% to 5.00%. The decisions were announced shortly after the Fed published its own rate decision. The Saudi riyal is pegged to the US dollar.

#### OTHER GULF RATE CUTS

Several GCC peers that also maintain dollar pegs announced comparable rate reductions on Wednesday.

#### SAUDI LENDING BENCHMARK

Variable-rate corporate and consumer credit facilities are typically priced off the Saudi interbank offered rate (SAIBOR), which tracks SAMA's policy rates. 

SAMA's statement, published on its website, did not include specific commentary on the domestic economic outlook.