Egypt’s Central Bank Keeps Interest Rates Unchanged

In its meeting on Thursday and which marks the last held for 2014, the Central Bank of Egypt’s Monetary Policy Committee kept the lending rate and deposit rate unchanged at 10.25 percent and 9.25 percent respectively.

The discount rate was also kept unchanged at 9.75 percent, a statement on the CBE’s website said.

Key interest rates were last changed in July 2014, when the committee raised them 100 basis points each to contain inflation.

Prices rose an annual 11.8 percent in October from 11.1 percent in September.

Source: Ahram Online