CBO keeps repo rate unchanged at 6%
Published: 10:12 AM,Dec 14,2023 | EDITED : 02:12 PM,Dec 14,2023
The Central Bank of Oman (CBO) has decided to keep its repo rate for local banks fixed at 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.
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 stability of the Omani Rial, the mitigation of capital outflow and promoting certainty among investors by removing exchange rate risk.
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.
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 stability of the Omani Rial, the mitigation of capital outflow and promoting certainty among investors by removing exchange rate risk.