Egypt’s central bank postpones rate meeting to Jan. 16

Egypt’s central bank has rescheduled its monetary policy meeting, it said in a statement on Wednesday.

The bank moved the meeting forward to January 16 after having previously been scheduled to take place on December 26. The statement said the postponement was to await the formation of the bank’s new board.

The central bank cut its key interest rates on November 14 at its third consecutive policy meeting since August. The overnight deposit and lending rates were cut by 100 basis (bps) points to 12.25 percent and 13.25 percent respectively.