Saudi ‘well positioned’ to face uncertainty in global economy – central bank

A potential rise in Saudi bank rates will also have limited impact on growth, the central bank said

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Saudi Arabia’s central bank said on Tuesday that any potential rise in Saudi interbank rates in 2019 would have a limited impact on growth.

“Any additional increase in SAIBOR (Saudi interbank offered rates) in 2019 will have limited impact on local growth, due to limited debt levels at most listed firms,” it said in a report.

Saudi Arabia is well positioned to face uncertainty in the global economy, the Saudi Arabian Monetary Authority also said, due to an increase in foreign reserves and low public debt level.