Egypt’s central bank unexpectedly keeps key rates ‘unchanged’

Egypt’s central bank (CBE) has decided to keep interest rates unchanged from July at a meeting of its monetary policy committee on Thursday.

The bank kept the overnight deposit rate, the overnight lending rate and the rate of the CBE’s main operation at 11.75 percent, 12.75 percent and 12.25 percent respectively, according to a statement on CBE’s website.

The annual core consumer price index that the central bank uses to measure the level of prices after excluding the volatile cost commodities such fruits and vegetables jumped to 13.52 percent in August from 12.38 percent the month before.

Source: Ahram Online