Egypt’s c. bank revamps main operation

The Central Bank of Egypt (CBE) has decided to amend to its main operation effective today, April 23rd, 2024, as per CBE reported.

The bank said the main operation (7-days) will be carried out through a fixed-rate operation with full allotment at the mid-corridor rate. Results of each operation will be published on the CBE’s website.

The CBE will continue to steer liquidity towards balanced conditions consistent with its operational target of safeguarding and steering the weighted average overnight interbank rate around the rate of the main operation, which is the mid-corridor rate, the report reads.