Saudi Central Bank Increases Key Interest Rates by 25 BPS

Saudi Arabia's central bank on Wednesday increased its repo rate by 25 basis points to 5.75% and its reverse repo rate also by 25bps to 5.25%, it said in a statement. Saudi Arabia, whose currency is pegged to the U.S. dollar, followed the U.S. Federal Reserve's decision to raise interest rates by a quarter of a percentage point. Read more.