URGENT: Egypt’s central bank keeps key policy rates unchanged

Egypt’s central bank kept its key interest rates unchanged on Thursday, with the overnight deposit rate at 19 per cent and the overnight lending rate at 20 per cent, as it assessed recent and expected inflation trends.

The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) also kept the rate of its main operation at 19.5 per cent and the discount rate at 19.5 per cent.

The decision reflected the committee’s assessment of recent and forecast inflation dynamics, as well as the evolving balance of risks surrounding the inflation outlook, the CBE said.