The Central Bank of Egypt Keeps Interest Rates UnchangedSource: www.export-egypt.com 8/17/2018, Location: Africa |
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 The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) kept interest rates unchanged for the third time this year, setting the overnight deposit rate and the overnight lending rate at 16.75 percent and 17.75 percent, respectively.
During June’s meeting, MPC also kept the interest rates unchanged after lowering them twice earlier this year by 1 percent each time. In February and March, CBE cut the interest rates by 200 basis points, and kept the rates unchanged during May and June meetings at 16.75 percent and 17.75 percent for the overnight deposit rate and the overnight lending rate, respectively. |
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