SAMA Raises Repo Rate

RIYADH, 27 October 2005 — Saudi Arabian Monetary Agency (SAMA) raised its benchmark repo rate by 25 basis points to 4.50 percent on Tuesday, bankers said. The move may have been taken in anticipation of a rise in US rates when the Federal Reserve next meets, bankers said. The Saudi riyal is pegged to the dollar and the central bank usually moves in step with US rate changes.