CBO cuts Repo Rate for local banks by 25 basis points

Muscat: The Central Bank of Oman (CBO), effective from Friday, has decreased its repo rate for local banks by 25 basis points to 5.25 percent. |

The Central Bank of Oman's monetary policy target is to sustain and maintain its fixed exchange rate and this policy is aligned with the structure and nature of the Omani economy, the statement said.

Some advantages for the Sultanate of Oman are derived from this policy among which include the stability of the currency, avoidance of irregular capital movements across borders, and stimulating the economic activities in the country by having lower cost of funding in the domestic market and promoting certainty among investors by removing exchange rate risk.