• Oman

    • Oman CBO cuts repo rate by 50 basis points

    By on September 21, 2024
    OMR
    OMR

    Muscat: ​The Central Bank of Oman (CBO), effective on Thursday, 19th September 2024, decreased its repo rate for local banks by 50 basis points to 5.50%. The Central Bank of Oman’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 the Sultanate of Oman that are derived from this policy among which are the following:

    Stability of the currency.

    Avoidance of capital outflow.

    Promoting certainty among investors by removing exchange rate risk.

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