FX.co ★ Saudi Arabia’s M3 Growth Eases Slightly to 8.2% in March, Still Signals Robust Liquidity

Saudi Arabia’s broad money supply (M3) growth edged down in March 2026, indicating a modest cooling in liquidity expansion while still remaining at an elevated pace. Year-over-year M3 growth came in at 8.20% in March, compared with 8.40% in February 2026, according to data updated on 1 May 2026.

Both readings are calculated on a year-over-year basis, comparing each month to the same month a year earlier. The slight deceleration suggests that while monetary conditions remain accommodative, the pace of expansion in the money stock has eased marginally from the previous month. This shift will be closely watched by market participants assessing underlying financial conditions and their potential implications for credit growth and economic activity in the Kingdom.