The Central Bank of Oman (CBO) has reduced the interest rate on repurchase agreements with local banks by 25 basis points to 4.5 percent.
Earlier, the US Federal Reserve on Wednesday announced its second consecutive quarter-point rate cut to bolster the flagging labor market, unveiling a decision that highlighted the growing division in its ranks.
Policymakers voted 10-2 in favor of lowering the bank's key lending rate to between 3.75 percent and 4.00 percent, the Fed said in a statement.
The decision to cut rates boosts the US economy at a time businesses are still digesting the effects of President Donald Trump's sweeping tariffs, and buys policymakers some more time as they wait for the end of the government shutdown.
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