URGENT: Egypt’s central bank keeps interest rates unchanged

Egypt’s central bank on Thursday decided to keep key interest rates steady citing inflation risks and an unfavourable external environment despite signs of easing price pressures.

The Monetary Policy Committee (MPC) kept the overnight deposit rate at 19.0 percent, the overnight lending rate at 20.0 percent, and the main operation rate at 19.5 percent. The discount rate was also maintained at 19.5 percent.

The decision reflects the Committee’s “assessment of prevailing and forecasted inflation dynamics amid an unfavourable external environment.

Attribution: Amwal Al Ghad English