The overnight deposit and lending rates, as well as the cost of the central bank’s primary operation, were established by the Central Bank of Egypt.
The bank announced that its monetary policy committee had chosen to keep the overnight lending and deposit rates, as well as the primary operation rate of the central bank, at 11.25 percent, 12.25 percent, and 11.75 percent, respectively, as of today, Thursday.
The bank kept the credit and discount rate at 11, the statement claims.
about 75%.
Notably, the committee convened for the first time in seven years without Tarek Amer, the former governor of the Central Bank, who resigned from his job yesterday and accepted the position of advisor to the president of the Republic, as stated by President Abdel Fattah El-Sisi.
The interest rates will remain constant, according to the Egyptian Central Bank.
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