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Central Bank of Egypt cuts interest rates by 2%

The Central Bank of Egypt (CBE) decided on Thursday evening to cut interest rates on deposits and lending by 2 percent, or 200 basis points. The overnight deposit rate now stands at 22 percent, and the lending rate is 23 percent. This decision was made during the fifth meeting of the Monetary Policy Committee in …

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Central Bank of Egypt cuts key interest rates

The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE), at the conclusion of its meeting this Thursday, decided to reduce the overnight deposit and lending rates by one percentage point, setting them at 24 percentage and 25 percentage respectively. The Central Bank uses interest rates as a tool to manage inflation—which signifies …

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