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FinancialNews


  • 31-03-19

    Central bank interest rates remain the same: Egypt

    (MENAFN) The Egyptian central bank reached a decision to maintain its main interest rates with no change amid efforts to achieve an inflationary target of 9 percent.

    Egypt's central bank decided to keep its overnight deposit rate at 15.75 percent while its overnight lending rate at 16.75 percent.

    It comes as the country witnessed a boost in its headline inflation rate last month, reaching 14.4 percent compared to January's 12.7 percent.

    Economist Mohamed Abou Basha stated "inflation edged up in February, narrowing the margin of positive real rates ahead of upcoming subsidy cuts."

    MENAFN3103201900450000ID1098324721

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