FX.co ★ Saudi Central Bank Raises Benchmark Rate

In September 2026, the Saudi Central Bank raised its benchmark repo rate by 25 basis points to 4.50%, in line with the US Federal Reserve’s move. The increase came after the Fed announced a 25 basis point hike in the federal funds rate target range to 3.75%-4.00%, with a majority of FOMC members signaling expectations of at least one additional increase later in the year. Saudi Arabia’s decision underscores its longstanding practice of closely tracking US monetary policy, reflecting the riyal’s peg to the US dollar.