Saudi, Gulf central banks raise key interest rates by 25 bps, mirroring Fed

Saudi, Gulf central banks raise key interest rates by 25 bps, mirroring Fed

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RIYADH: The Saudi central bank, known as SAMA, increased key rates by 25 basis points on Wednesday, it said in a statement, following the Federal Reserve’s move to raise US interest rates by a quarter of a percentage point. The repo rate was increased to 6 percent and the reverse repo rate was…

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