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Saudi Arabia Interest Rate

Saudi Arabia Interest Rate

SAMA Repo Rate in Saudi Arabia

Saudi Arabia's central bank policy rates from 2013 to 2022 largely mirrored the US Federal Reserve's decisions, due to the Riyal's peg to the US Dollar. This led to a period of low interest rates early in the decade. However, from 2016 onwards, as the Fed started raising rates, Saudi Arabia followed suit. The rates were cut again in 2020 in response to the COVID-19 pandemic's economic impact. By 2022, the rates began to rise again in line with the Fed.

The SAMA Repo Rate ended 2022 at 5.00%, up from the 1.00% end-2021 value and up from the reading of 2.00% a decade earlier. For reference, the average policy rate in the Middle East & North Africa was 5.80% at the end of 2022. For more interest rate information, visit our dedicated page.

Saudi Arabia Interest Rate Chart

Note: This chart displays Policy Interest Rate (%) for Saudi Arabia from 2014 to 2023.
Source: SAMA.

Saudi Arabia Interest Rate Data

2018 2019 2020 2021 2022
SAMA Repo Rate (%, eop) 3.00 2.25 1.00 1.00 5.00
SAMA Reverse Repo Rate (%, eop) 2.50 1.75 0.50 0.50 4.50
3-Month Interbank Rate (%, eop) 2.90 2.24 0.82 0.87 5.28
Consensus Forecasts and Projections for the next ten years

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Saudi Arabian interest rate projections for the next ten years from a panel of 6 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable interest rate forecast available for Saudi Arabian interest rate.

Download one of our sample reports to visualize what a Consensus Forecast is and see our Saudi Arabian interest rate projections.

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