CBE raises interest rates by 100 basis points ...Egypt

EGYPT INDEPENDENT - Economy

The Monetary Policy Committee of the Central Bank of Egypt during its Thursday meeting raised overnight interest rates by 100 basis points, to avoid inflationary pressures and control inflation expectations, according to the committee’s statement. The lending rate was increased to 20.25 percent, the deposit rate to 19.25 percent and the main operation rate rose to 19.75 percent. The credit and discount rates were also raised by 100 basis points to 19.75 percent. Global commodity price expectations continued to decline compared to previous expectations at the Monetary Policy Committee’s meeting in June. Oil prices increased during July while expected inflation rates in some major economies

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Last updated : 04 August 2023 clock 01:21 PM

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CBE raises interest rates by 100 basis points ...Egypt

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