Egypt’s central bank leaves overnight interest rates steady

Egypt’s central bank leaves overnight interest rates steady

CAIRO: Egypt’s central bank as expected left its overnight interest rates on hold on Thursday, saying inflation pressures had subsided but that economic growth had softened. The lending rate remained at 28.25 percent, while the deposit rate stood at 27.25 percent, the bank said in a statement. It was the third time that it left rates unchanged since a 600 basis point hike on March 6, when it signed a $8 billion financial support agreement with…

Economic indicators improve, Central Bank decides to keep rates steady - Egypt Independent

The Central Bank of Egypt has forecast a recovery in the country’s Gross Domestic Product (GDP) in the near future. This follows a slowdown in real GDP growth rates caused by the Suez Canal crisis and its impact on the services sector. In a statement released on Thursday, the Central Bank’s Monetary Policy Committee detailed …