The Central Bank of Oman confirmed that this decision comes within the framework of its monetary policy aimed at achieving and maintaining exchange rate stability.
The Central Bank of Oman decided today to reduce the interest rate on repurchase operations for local banks by 0.25%, to reach5.25%.
The Central Bank of Oman confirmed that this decision comes within the framework of its monetary policy aimed at achieving and maintaining exchange rate stability, in addition to stimulating economic growth by reducing financing costs and building confidence in the Omani economy.
Last night, Thursday, a number of central banks cut rates. GCC interest rates, After the US Federal Reserve’s decision to cut interest rates by 25 basis points for the second time this year.
Saudi Arabia
The Saudi Central Bank also announced a reduction in the repurchase agreement (repo) rate by 25 basis points to reach 5.25%, and also decided to reduce the “reverse repo” rate by 25 basis points to reach 4.75%.
UAE Central Bank
The Central Bank of the UAE today announced a reduction in the “base rate” on its overnight deposit facility by 25 basis points, from 4.90% to 4.65%, effective today, Friday, November 8.
