The Central Bank of Oman has announced that it will be raising its repo rate by 50 basis points. This move comes as a response to the increasing inflation and economic growth in the country. The higher repo rate will make borrowing more expensive for banks and other financial institutions, which may in turn lead to higher interest rates on loans and other financial products.
This decision is expected to help curb the rise in inflation and support the country’s monetary policy. It is also likely to have a positive impact on the Omani rial, as higher interest rates typically attract foreign investment.
The Central Bank of Oman has been closely monitoring the country’s economic conditions and has taken this action in order to maintain a stable and healthy financial system. The higher repo rate is expected to have a positive impact on the overall economy and help support its continued growth.