World Economy/Saudi Arabia

🇸🇦

Saudi Arabia

Middle East • Sovereign Currency: SAR

Analyze Saudi Arabia with Schema AI

Nominal GDP

$1.11T

2024

Annual GDP Growth

+2.8%

YoY Q3 2024

Inflation (CPI)

1.7%

Oct 2024 YoY

Policy Rate

5.50%

SAMA Repo Rate

10Y Sovereign Yield

4.92%

10Y KSA Sukuk

Unemployment Rate

4.4%

Q2 2024

Debt-to-GDP

26.2%

2024

Trade Balance

+$12.4B

Sep 2024

BLOOMBERG ECONOMICS MONETARY POLICY TRANSMISSION

🇸🇦SAUDI CENTRAL BANK (SAMA) POLICY DASHBOARD

Target Instrument: Repo Rate • Sovereign: Saudi Arabia (SAU)

STANCE: hawkish

Next Meeting: 2026-12-18

LOOSER CONDITIONSIN LINE WITH TARGETTIGHTER CONDITIONS

STATUTORY BENCHMARK

5.50%Unchanged (0 bps)

Repo Rate

REAL CARRY SPREAD (r - π)

+3.80%

Restrictive Drag

OVERNIGHT BENCHMARK (O/N)

N/A

Statutory money market fixing

YIELD CURVE SLOPE (10Y - r)

-0.58%

Inverted Term Structure

WAGES & PRICES2 METRICS

Headline CPI Inflation (YoY)Oct 2024 YoY

Anchored within standard statutory price stability corridor

GASTATRef

1.70%

LOOSER

Distance to Inflation Target (2.0%)Oct 2024 YoY

Inflation below 2% target anchor by 0.30 percentage points

GASTATRef

-0.30%

LOOSER

SUPPLY & DEMAND2 METRICS

Annual Real GDP Growth RateQ3 2024

Moderate real growth pace matching potential output

GASTATRef

2.80%

MILD LOOSE

Unemployment Rate (Labor Slack)Q2 2024

Balanced labor market matching full employment capacity

GASTATRef

4.40%

MILD LOOSE

FINANCIAL CONDITIONS4 METRICS

Repo RateSAMA Repo Rate

Official statutory policy target rate set by Saudi Central Bank (SAMA)

Saudi Central BankRef

5.50%

MILD LOOSE

Real Carry Rate (Policy - CPI)Calculated

Positive real return regime delivering restrictive monetary drag

Saudi Central Bank (SAMA) vs GASTAT

+3.80%

MILD LOOSE

10-Year Sovereign Benchmark Yield10Y KSA Sukuk

Long-term sovereign borrowing benchmark discounting term premium & inflation risk

Ministry of Finance NDMCRef

4.92%

IN LINE

Yield Curve Slope (10Y - Policy Rate)Calculated

Inverted yield curve by 0.58% signaling restrictive monetary drag

Sovereign Debt Desk vs Central Bank Target

-0.58%

TIGHTER

EXTERNAL & FISCAL2 METRICS

Current Account / Trade BalanceSep 2024

Trade balance surplus reinforcing sovereign foreign exchange buffer

GASTATRef

+$12.4B

MILD LOOSE

General Government Debt / GDP2024

Fiscal debt load within statutory prudential headroom boundary

Ministry of FinanceRef

26.20%

LOOSER

HISTORICAL RATE DECISION TRAJECTORY (REPO RATE)

Verified Chronological Decisions

2026-10-09

5.50%

Policy Assessment Summary: Repurchase agreement rate pegged to Federal Funds.

Key Domestic Equities & Capital Markets

Major corporate champions tracked in WOWS with sovereign economic exposure

Index: Tadawul All Share (TASI)

2222• Oil & Gas

Saudi Aramco

1120• Islamic Banking

Al Rajhi Bank