URGENT: Egypt’s central bank keeps interest rates unchanged

Egypt’s central bank kept its key interest rates unchanged on Thursday, saying the decision reflected its assessment of current inflation trends and the outlook since its previous monetary policy meeting.

The Central Bank of Egypt’s Monetary Policy Committee (MPC) left the overnight deposit rate at 19.00 per cent, the overnight lending rate at 20.00 per cent, and the main operation rate at 19.50 per cent. The discount rate was also maintained at 19.50per cent, the central bank said in a statement.

“This decision reflects the Committee’s assessment of current inflation dynamics and the evolving outlook since the previous MPC meeting,” the committee explained in a brief statement. 

The CBE is scheduled to publish the full monetary policy statement outlining the committee’s assessment of inflation and the economic outlook later on Thursday.

Attribution: Amwal Al Ghad English