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Egypt’s central bank leaves overnight interest rates steady

Summary by Arab News
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…
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