Saudi Central Bank Says It’s Ready to Inject Liquidity If Needed

Saudi Arabia’s central bank said it’s prepared to inject liquidity in the financial system if needed to help the economy cope with the aftermath of this week’s major attacks on Aramco’s oil facilities.

With its stockpile of net foreign assets at over $500 billion, “it gives the monetary authority the ability to intervene in the markets at any time,” Governor Ahmed Abdulkarim Alkholifey told reporters in Riyadh on Tuesday. The top OPEC oil producer has no intention to change its currency’s peg to the U.S. dollar, he said.