RTTNews - The Saudi Arabian central bank reduced its reverse repo rate by 25 basis points on Tuesday.
The Saudi Arabian Monitory Agency or SAMA lowered its key policy rate to 0.25% from 0.50% with immediate effect. This measure has been taken to normalize domestic money market conditions against the backdrop of stable macroeconomic activity, the SAMA said.
In April, the central bank had lowered the reverse repo rate to 0.5% from 0.75% after lowering it in January.
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