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Monday, September 26, 2022 9:23 GMT
The Central Bank of Oman (CBO) on Thursday raised its repo rate for local banks by 75 basis points to 3.75%, moving with US Federal Reserve as Oman’s currency is pegged to the US dollar. However, at the same time, CBO has cautioned local banks not to increase lending rates for consumers as there is sufficient liquidity available in Oman’s financial system. Oman’s rate hike decision was made after the US Fed on Wednesday increased its key interest rate by 75 basis points, the fifth rate hike...More