Oman has its currency pegged to the US dollar
Oman central bank hikes repo rate by 50 bps
The Omani central bank increases its repurchase rate by 50 basis points to 5% straight after the US Federal Reserve raised interest rates by a widely-expected half a percentage point overnight.
Thursday 15/12/2022
Oman has its currency pegged to the US dollar
DUBAI - Oman's central bank increased its repurchase rate by 50 basis points to 5%, the central bank said on Thursday.
The move came straight after the US Federal Reserve raised interest rates by a widely-expected half a percentage point overnight in a bid to tame inflation despite a risk of recession.
Last month, the central bank increased its repo rate by 75 basis points to 4.5 after the US Federal Reserve raised rates by 75 basis points.
Oman has its currency pegged to the US dollar.