Egypt central bank to offer LE3 bn in repurchase agreements

Reuters , Tuesday 16 Aug 2011

Potential volatility of short-term interest rates prompts central bank's decision

Egypt's Central Bank

Egypt's central bank said it will offer LE3 billion in seven-day repurchase agreements in the money market on Tuesday at a fixed rate of 9.25 per cent.

The central bank introduced the weekly repo agreements in March to keep short-term interest rates under control after a popular uprising ousted president Hosni Mubarak.

Last week it asked for repos worth LE8 billion and accepted the same amount it had requested.

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