• Oman

    • Central Bank Of Oman maintains its Repo rate at 5.75%

    By on June 15, 2023
    cbo
    cbo

    Muscat: The Central Bank of Oman (CBO) has decided to keep its repo rate for local banks fixed at 5.75%, following the U.S. Federal Reserve’s decision to leave its key policy rate unchanged at the range of (5.00% – 5.25%)

    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 CBO’s monetary policy target is to sustain and maintain its fixed exchange rate. This policy is aligned with the structure and nature of the Omani economy. There are a number of advantages for Oman that are derived from this policy among which are the following: Stability of the Omani Rial; Mitigation of capital outflow; Promoting certainty among investors by removing exchange rate risk.

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