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Central Bank Of Egypt Cuts Interest Rates By 100 Basis Points
(MENAFN- The Peninsula)
QNA
Cairo: The Monetary Policy Committee of the Central Bank of Egypt (CBE) decided Thursday to cut the overnight deposit and lending rates, as well as the Central Bank's main operation rate, by 100 basis points, to 20.00 percent, 21.00 percent, and 20.50 percent, respectively.
In a statement, the Central Bank of Egypt (CBE) said that the Monetary Policy Committee also decided to cut the discount rate by 100 basis points to 20.50 percent.
The statement added that this decision reflects the Committee's assessment of the latest inflation developments and its forecasts since its previous meeting.
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