The Saudi Arabian Monetary Agency (SAMA) has reduced its repo rate to 3 percent and the cash reserve requirement on demand deposits to 7 percent.

SAMA has decided to reduce its repo rate from 4 percent to 3 percent and the cash reserve requirement on demand deposits from 10 percent to 7 percent immediately. These measures are taken against the backdrop of receding inflationary pressures and for ensuring that adequate system liquidity is available to meet steady domestic demand.