By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Gulf PressGulf Press
  • Home
  • Gulf News
    • Saudi Arabia
    • UAE24/7
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • World
  • Business
    • Market DataLive
    • Finance
    • Economy
    • Energy
    • Crypto
    • ForexHot
    • Tech
  • Sports
  • Lifestyle
  • Videos
Search
Countries
  • Saudi Arabia
  • UAE
  • Kuwait
  • Qatar
  • Bahrain
  • Oman
More Topics
  • Technology
  • Health
  • Entertainment
  • Crypto
  • Forex
  • Stocks
Site Links
  • Business Hub
  • Trending
  • Weather
  • Customize Interests
  • Bookmarks
  • Newsletter
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Reading: Local banks’ repo rate drops by 25 basis points
Share
Notification Show More
Latest News
UAE Ranks Among Top Rugby Markets on TOD as British & Irish Lions Tour Kicks Off
Sports
Darven: A New Leap in AI-Powered Legal Technology Launching from the UAE to the World
Tech
Beat the Heat This Summer with a Chill Out on Dubai Marina
World
Historic Italian City of Assisi to Host International Exhibition “Jordan: Dawn of Christianity”
World
Jordan to Host Iraq in the Final Round of the Asian World Cup Qualifiers After Securing Historic Spot
Sports
Aa
Gulf PressGulf Press
Aa
  • Gulf News
  • World
  • Business
  • Entertainment
  • Lifestyle
  • Sports
  • Videos
Search
  • Home
    • Videos
    • Business Hub
    • Trending
  • Gulf
    • Saudi Arabia
    • UAE
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • Business
    • Market Data
    • Crypto
    • Economy
    • Energy
    • Finance
    • Forex
    • Tech
  • More News
    • World
    • Lifestyle
    • Entertainment
    • Sports
Have an existing account? Sign In
Follow US
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Gulf Press > Gulf > Oman > Local banks’ repo rate drops by 25 basis points
Oman

Local banks’ repo rate drops by 25 basis points

News Room
Last updated: 2024/11/08 at 3:40 PM
News Room
Share
4 Min Read
SHARE

The Central Bank of Oman (CBO) has announced a decrease in its repo rate for local banks, from 5.5% to 5.25%. This move is in line with the bank’s monetary policy target of maintaining its fixed exchange rate. By keeping the exchange rate stable, Oman can benefit from a number of advantages. One of the key benefits is the stability of the currency, which helps to avoid irregular capital movements across borders. This, in turn, stimulates economic activities within the country by providing a lower cost of funding in the domestic market. Additionally, this policy promotes certainty among investors by removing exchange rate risk.

With the decrease in the repo rate, local banks in Oman will now have access to cheaper funding, which can lead to an increase in lending and investments. This will help to boost economic activities and drive growth in the country. By promoting lower costs of funding, the Central Bank of Oman is encouraging businesses to borrow and invest, which can have a positive impact on the overall economy. This move is expected to provide a much-needed stimulus to the economy, especially in the current global economic scenario.

The decision to decrease the repo rate by the CBO also reflects the bank’s commitment to supporting the Omani economy during these challenging times. By providing local banks with cheaper funding, the Central Bank is helping to ease financial pressures and support economic growth. This move is a proactive step towards stimulating economic activities and ensuring the stability of the currency. It demonstrates the Central Bank’s efforts to respond effectively to the changing economic environment and support businesses in Oman.

The policy of maintaining a fixed exchange rate in Oman has proven to be beneficial for the country’s economy. It helps to provide stability and certainty for both investors and businesses, which is essential for economic growth. By avoiding irregular capital movements across borders, Oman can ensure a steady flow of investments into the country. This policy also promotes confidence in the economy, as investors are not exposed to exchange rate risks. Overall, the fixed exchange rate policy contributes to a favorable investment climate in Oman.

The decrease in the repo rate by the Central Bank of Oman will have a positive impact on the country’s banking sector. Local banks will now have access to cheaper funding, which can help to increase lending and support economic activities. This move is expected to stimulate growth in the financial sector and drive investments in the economy. By providing a lower cost of funding in the domestic market, the Central Bank is encouraging banks to lend more and support businesses in Oman. This will help to boost economic activities and create new opportunities for growth.

In conclusion, the decision by the Central Bank of Oman to decrease its repo rate is a positive development for the country’s economy. By maintaining a fixed exchange rate and providing local banks with cheaper funding, Oman is well-positioned to stimulate economic activities and drive growth. This move reflects the Central Bank’s commitment to supporting the Omani economy and promoting stability in the financial sector. Overall, the policy of maintaining a fixed exchange rate has proven to be beneficial for Oman, as it helps to provide stability, certainty, and confidence for investors and businesses.

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
I have read and agree to the terms & conditions
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
News Room November 8, 2024
Share this Article
Facebook Twitter Copy Link Print
Previous Article Ila Bank introduces two customized jewelry campaigns for the month of November
Next Article Amsterdam prohibits all demonstrations following assaults on Israeli soccer fans
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

235.3k Followers Like
69.1k Followers Follow
56.4k Followers Follow
136k Subscribers Subscribe
- Advertisement -
Ad imageAd image

Latest News

UAE Ranks Among Top Rugby Markets on TOD as British & Irish Lions Tour Kicks Off
Sports July 6, 2025
Darven: A New Leap in AI-Powered Legal Technology Launching from the UAE to the World
Tech July 1, 2025
Beat the Heat This Summer with a Chill Out on Dubai Marina
World July 1, 2025
Historic Italian City of Assisi to Host International Exhibition “Jordan: Dawn of Christianity”
World June 28, 2025

You Might also Like

Oman

North Al Batinah reveals extensive Shinas Marine Park spanning 35,000 square meters

January 6, 2025
Oman

Official holiday declared for ROP staff

January 6, 2025
Oman

RAFO’s quick action saves the life of an Omani child

January 6, 2025
Oman

Survey on Non-Communicable Diseases (NCDs) to Improve Healthcare System in Oman

January 6, 2025
Oman

Notification of Pilgrimage Eligibility for Individuals to be Sent via SMS Starting on Tuesday

January 6, 2025
Oman

HM the Sultan awards medals of Royal Commendation and Excellent Service to officers of the Royal Oman Police

January 6, 2025
Oman

His Majesty congratulates the King of Bahrain and the Emir of Kuwait

January 5, 2025
Oman

Undersecretary for Political Affairs meets with UN Special Envoy for Yemen

January 5, 2025
//

Gulf Press is your one-stop website for the latest news and updates about Arabian Gulf and the world, follow us now to get the news that matters to you.

Quick Link

  • Privacy Policy
  • Terms of ue
  • Advertise
  • Contact

How Topics

  • Gulf News
  • International
  • Business
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our latest news instantly!

I have read and agree to the terms & conditions
Gulf PressGulf Press
Follow US

© 2023 Gulf Press. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

I have read and agree to the terms & conditions
Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?