CBE statement on unchanged interest rates – Egypttoday

CBE statement on unchanged interest rates – Egypttoday

CAIRO - 16 January 2020: The Monetary Policy Committee (MPC) of the Central Bank of Egypt's (CBE) attributed its decision to keep interest rates unchanged during January to several factors.. And is transcript of CBE full statement The Monetary Policy Committee (MPC) decided to keep the Central Bank of Egypt's (CBE) overnight deposit rate, overnight lending rate, and the rate of the main operation unchanged at 12.25 percent, 13.25 percent, and 12.75 percent, respectively.. Annual headline urban inflation recorded 7.1 percent in December 2019 compared to 3.6 percent in November 2019, as monthly inflation recorded negative 0.2 percent in December 2019 compared to negative 3.4 percent in December 2018.. Annual core inflation recorded 2.4 percent in December 2019 compared to 2.1 percent in November 2019, mainly due to higher poultry prices.. Real GDP growth stabilized, recording a preliminary estimate of 5.6 percent in 2019 Q3, after recording 5.6 percent in fiscal year 2018/19, the highest growth since fiscal year 2007/08.. Unemployment rate recorded 7.8 percent in 2019 Q3 compared to 7.5 percent in 2019 Q2, the lowest level on record..