Egypt’s central bank issues LE 7.5B in T-bonds Monday – Egypttoday

Egypt’s central bank issues LE 7.5B in T-bonds Monday – Egypttoday

CAIRO - 23 March 2020: The Central Bank of Egypt (CBE), on behalf of the Ministry of Finance, issued LE 7.5 billion in treasury bonds on Monday, Mar 23.. The T-bonds were offered in two installments, with the first valued at LE 4 billion with a three-year term and the second worth LE 3.5 billion with a seven-year term.. The Monetary Policy Committee of the Central Bank of Egypt (CBE) decided Monday to cut the overnight deposit rate, the overnight lending rate, and the rate of the main operation in an emergency meeting by 300 basis points.. The overnight deposit rate, the overnight lending rate, and the rate of the main operation are cut to reach 9.25 percent, 10.25 percent, and 9.75 percent, respectively.. Credit and discount rates are cut at 9.75 percent from 12.75 percent.. Egypt's domestic liquidity rises to LE 4.187B in February.