CBE Increases Interest Rates On Lending

The Monetary Policy Committee at the Central Bank of Egypt (CBE) decided to increase interest rates for one night to 9.25 percent on deposit and 10.25 percent on lending.

In a statement, the CBE also said that it decided to increase the main overnight interest rate by 100 basis points to reach 9.75 percent.

The committee also decided to increase credibility and deduction rates by 100 basis points to 9.75 percent.

Source : Egypt State Information Service