Egypt cuts interest rates by 150 basis points

The Monetary Policy Committee (MPC) decided Thursday 22/08/2019 to cut the Central Bank of Egypt’s (CBE) overnight deposit rate, overnight lending rate, and the rate of the main operation by 150 basis points to 14.25 percent, 15.25 percent, and 14.75 percent, respectively.

The discount rate was also cut by 150 basis points to 14.75 percent, the CBE said in a press release.

Source: State Information Service Egypt