Central Bank RatesSaudi Arabia policy rate in 2023 (4 changes)
Start of year5.00%
End of year6.00%Dec 31, 2023
Net change+100 bp4 hikes, 0 cuts
Average5.695%
Rank by level17 / 38
Changes in 2023
| Date | From | To | Change |
|---|---|---|---|
| Feb 1, 2023 | 5.00% | 5.25% | hike +25 bp |
| Mar 23, 2023 | 5.25% | 5.50% | hike +25 bp |
| May 3, 2023 | 5.50% | 5.75% | hike +25 bp |
| Jul 26, 2023 | 5.75% | 6.00% | hike +25 bp |
Compared with other areas at the end of 2023
42.5%
16%
13%
11.75%
11.25%
10.75%
9.25%
8.25%
8.25%
7%
6.75%
6.75%
6.5%
6.5%
6.5%
6.3%
6%
6%
5.75%
5.75%
5.5%
5.375%
5.25%
5%
4.75%
4.5%
4.5%
4.35%
4.25%
4%
3.6%
3.5%
3.45%
3%
3%
2.5%
1.75%
-0.1%
Year-end rate over time
4.5%
4.25%
5%
6%
5%
1%
1%
2.25%
3%
2%
2%
2%
2%
2%
2%
2%
2%
2%
2.5%
5.5%
5.2%
4.75%
2.5%
1.75%
2%
2.75%
7%
2023: hikes and cuts worldwide →
Daily policy-rate data compiled by the BIS. Not investment advice.