Oman Central Bank raises interest rate by 0.25 percent on repo operations with local banks

Muscat – 16 – 9 (KUNA) – The Central Bank of Oman announced on Wednesday that it has raised the interest rate on repurchase operations with local banks by 25 basis points (0.25 percent) to 4.5 percent, effective from Thursday, September 17.

The bank stated in a statement that this decision is in line with its monetary policy direction, consistent with the fixed exchange rate regime of the Omani Rial, and contributes to maintaining monetary and financial stability in the Sultanate.

It added that this measure helps curb inflationary pressures and maintain price stability, while also helping to limit undesirable cross-border capital flows and bolster investor confidence by mitigating exchange rate volatility risks.

(End) M.J.B. / R.J.