Egypt’s Central Bank keeps interest rates unchanged
by ChemOrbis Editorial Team - content@chemorbis.com
According to local media sources, the Central Bank of Egypt decided to maintain their interest rates stable at 10.75% for deposits, 11.75% for lending, and 11.25% for credit and debit.
On March 17, the bank’s Monetary Policy Committee had raised the interest rate by 1.5% in order to contain inflation caused by the rising price of the US dollar against the Egyptian pound and to keep commodity prices stable.
The Central Bank’s interest rates are the main index for interest rates on the Egyptian pound in the local market.
On March 17, the bank’s Monetary Policy Committee had raised the interest rate by 1.5% in order to contain inflation caused by the rising price of the US dollar against the Egyptian pound and to keep commodity prices stable.
The Central Bank’s interest rates are the main index for interest rates on the Egyptian pound in the local market.
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