Egypt's keeps interest rates steady as inflation looms

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Egypt's keeps interest rates steady as inflation looms

Egypt’s central bank kept its key overnight interest rates unchanged on Thursday, as expected, citing the impact on inflation of uncertainty around US protectionism and geopolitics. The bank’s monetary policy committee kept the lending rate at 28.25 percent and the deposit rate at 27.25 percent, it said. The median forecast in a Reuters poll of 10 analysts was that the committee would keep rates steady. “Upside risks surrounding the inflation ou…

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The Monetary Policy Committee of the Central Bank of Egypt decided in its meeting on Thursday, February 20, 2025, to maintain the overnight deposit and lending rates and the rate of the central bank’s main operation at 27.25%, 28.25% and 27.75%, respectively. It also decided to maintain the credit and discount rate at 27.75%. Some central banks in both advanced and emerging economies continued to cut interest rates … Source