Published 09/06/2024 5:34:24 a.m.

MPC keeps rates unchanged on easing inflation - Egyptian Gazette

Summary by Egyptian Gazette

Analysis by Ahmed Kamel The Central Bank of Egypt (CBE) has kept overnight interest rates steady in the wake of deceleration of inflation. The CBE’s Monetary Policy Committee (MPC) said the“currentpolicy rates remain appropriate” to maintain the prevailing tight monetary stance until a significantand sustained decline in inflation is realized. The MPC kept overnight deposit and lending rates steady at 27.25 and 28.25 percent, respectively. It al…

0 Articles

All

Left

Center

Right

AGBI

Egypt holds key policy rates steady as inflation eases

Egypt’s central bank left its key policy rates unchanged as inflation continued to subside amid softening growth. The lending and deposit rates were kept intact at 28.25 percent and 27.25 percent. Inflationary pressure has continued to subside with the gradual easing of previous shocks, the central bank said in a statement. Annual headline and core inflation fell for the fifth consecutive month to 25.7 percent and 24.4 percent in July 2024, resp…

09/06/2024 5:34:24 a.m.

Read Full Article