CBE cuts interest rates by 0.5%

CBE cuts interest rates by 0.5%

CBE cuts interest rates by 0.5% The MPC has cut the rate of the main operation by 9.25%    Central Bank of Egypt's headquarters is seen in downtown Cairo, Egypt, June 7, 2017. Image used for illustrative purpose.ArabFinance: Egypt announced a reduction of 0.5% or 50 basis points in key interest rates, according to the central bank's Monetary Policy Committee (MPC) decision on September 24th.ArabFinance: Egypt announced a reduction of 0.5% or 50 basis points in key interest rates, according to the central bank's Monetary Policy Committee (MPC) decision on September 24th.The MPC has cut the rate of the main operation by 9.25%, while overnight deposit and lending rates were reduced to 8.75% and 9.75%, respectively.The Central Bank of Egypt (CBE) stated that slashing Egypt's interest rates would provide "appropriate