FX.co ★ Saudi Central Bank Follows Fed With Rate Cut

In September, the Saudi Central Bank reduced its repo rate by 25 basis points, bringing it down to 4.75%, while also lowering the reverse repo rate to 4.25%. This adjustment follows the Federal Reserve’s decision to decrease its rates by a quarter point to a range of 4.00% to 4.25%. Saudi Arabia's monetary policy adjustments are in accordance with its strategy of synchronizing with the U.S., as the Saudi riyal is pegged to the U.S. dollar.