CBO keeps repo rate unchanged at 6%

CBO keeps repo rate unchanged at 6%

Muscat: The Central Bank of Oman (CBO) decided to keep its repo rate for local banks fixed at 6.00 per cent, following the US Federal Reserve's decision to leave its key policy rate unchanged at the range of (5.25 per cent - 5.50 per cent).

The Central Bank of Oman’s monetary policy target is to sustain and maintain its fixed exchange rate. This policy is aligned with the structure and nature of the Omani economy.

CBO pointed out that the decision aims to ensure the stability of the Omani Rial, mitigate capital outflow and promote certainty among investors by removing exchange rate risk.