CBO increases repo rate for local banks by 25 basis points

After the U.S. Fed’s recent announcement to raise its key policy rate, the Central Bank of Oman (CBO) increased its repo rate for local banks at the similar rate of 25 basis points to 6.00%. The repo rate is the policy rate that allows commercial banks to acquire short term liquidity from the Central Bank as the lender of last resort.

The Central Bank of Oman’s monetary policy target is to sustain and maintain its fixed exchange rate.