Egypt Leaves Interest Rates on Hold– CBE

Egypt’s central bank kept its official interest rates on hold as expected at a monetary policy committee meeting on Thursday.

Five of seven economists in a Reuters survey had forecast the bank would leave its overnight rates unchanged. Two expected another 50 bp reduction.

The bank kept its deposit rate at 8.25 percent and its lending rate at 9.25 percent. It also kept its discount rate and the rate it uses to price one-week repurchase and deposit operations at 8.75 percent, the bank said in a statement on its website.