Egypt cuts interest rates by 50 bps as inflation subsides

Egypt cuts interest rates by 50 bps as inflation subsides

Egypt's central bank unexpectedly cut its main overnight interest rates by 50 basis points on Thursday, saying exceptionally low inflation gave it room to help boost the economy. The bank's Monetary Policy Committee (MPC) reduced the lending rate to 9.75 percent and the deposit rate to 8.75 percent, it said in a statement. Of 18 “¦ Continued

The post Egypt cuts interest rates by 50 bps as inflation subsides appeared first on Egypt Independent.Egypt's central bank unexpectedly cut its main overnight interest rates by 50 basis points on Thursday, saying exceptionally low inflation gave it room to help boost the economy. The bank's Monetary Policy Committee (MPC) reduced the lending rate to 9.75 percent and the deposit rate to 8.75 percent, it said in a statement. Of 18 “¦ Continued

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