Saudi central bank keeps rates steady

DUBAI – Saudi Arabia’s central bank has decided to keep its key interest rates unchanged in June, as it still sees inflationary pressure in the short to medium term under control, people familiar with the matter said on Saturday.
The Saudi Arabian Monetary Agency held its overnight reverse repo rate at 0.25 per cent this month, and the benchmark repurchase rate at two per cent, the persons, who declined to be identified, said.

Saudi Arabia’s annual rate of inflation edged down to 5.3 per cent in April, from 5.4 per cent in March, mainly due to lower food prices, data from the Central Department of Statistics and Information showed last month.

Khaleej Times 2012, Jun 03 2012