Egypt’s central bank holds key interest rates steady after inflation review

The Monetary Policy Committee of the Central Bank of Egypt announced on Thursday that it would keep its key interest rates unchanged following its meeting in Cairo.

In a statement, the central bank said the committee decided to maintain the overnight deposit rate at 19.00% and the overnight lending rate at 20.00%. The main operation rate was also held at 19.50%.

The bank added that the committee also decided to keep the credit and discount rate at 19.50%.

The statement noted that the decision to hold interest rates was based on the committee’s assessment of the latest inflation developments and its outlook since the previous meeting.