September 18, 2024

Saudi Central Bank Slashes Rates by 50 bps

Saudi Arabia’s Central Bank announced Wednesday it slashed the repurchase agreement (repo) rate by 50 basis points to 5.50 percent, and the reverse repo rate by 50 basis points to 5.00 percent.

A statement from the bank said the move

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European Shares Flat ahead of Fed Rate Decision

European shares were flat on Wednesday, as investors stayed on the sidelines ahead of an all-important interest rate decision by the US Federal Reserve that could mark the beginning of a monetary-easing cycle in the world’s largest economy.

The pan-E…

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