Egyptian Central Bank decides to leave interest rates unchanged

The Central Bank of Egypt decided to fix the interest rate on overnight deposits and lending rates, as well as the price of the central bank’s underlying operation.

The bank said in a statement that its monetary policy committee decided at its meeting today, Thursday, “to maintain overnight deposit and lending rates, as well as the central bank’s main operating rate at 11.25%, 12.25% and 11.75% respectively. “.

The statement added that the bank maintained “the discount rate at 11.75 percent.”

It is noteworthy that for the first time in 7 years the committee passed without the presence of Tarek Amer, the former governor of the Central Bank, who yesterday submitted his resignation from his position, and President Abdel Fattah El-Sisi announced his approval and was appointed adviser to the President of the Republic.

Source: RT

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