December 19, 2018 / 7:37 PM / 6 months ago

Saudi central bank raises repo, reverse repo rates 25 bps

DUBAI, Dec 19 (Reuters) - Saudi Arabia’s central bank said on Wednesday it was raising policy rates to preserve monetary stability.

It increased its repo rate to 300 basis points from 275 bps, and the reverse repo rate to 250 bps from 225 bps.

Earlier, the U.S. Federal Reserve raised rates by 25 bps. (Reporting by Andrew Torchia; Editing by Angus MacSwan)

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