Egypt’s central bank cuts interest rates by 50 basis points
- Date: 13-Nov-2020
- Source: Egypt Independent
- Sector:Financial Services
- Country:Egypt
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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