Egypt’s central bank cuts interest rates by 50 basis points

Egypt’s central bank cuts interest rates by 50 basis points

Egypt's central bank cut its main interest rates by 50 basis points on Thursday, moving to support an economy badly hit by the coronavirus pandemic as inflation remained muted. Egypt's economy contracted by 1.7 percent in the second quarter of 2020, the bank's Monetary Policy Committee (MPC) said in a statement accompanying the decision to “¦ Continued

The post Egypt's central bank cuts interest rates by 50 basis points appeared first on Egypt Independent.Egypt's central bank cut its main interest rates by 50 basis points on Thursday, moving to support an economy badly hit by the coronavirus pandemic as inflation remained muted. Egypt's economy contracted by 1.7 percent in the second quarter of 2020, the bank's Monetary Policy Committee (MPC) said in a statement accompanying the decision to “¦ Continued

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