Egypt Central bank keeps interest rates constant

Reuters, Friday 17 Dec 2010

Egyptian interest rates remain constant as the Central Bank yesterday announced its overnight rates.

central bank egypt
The Egyptian central bank held the interset rates constant after the continous cuts prevailed till last september. (photo: Reuters)

Egypt's central bank kept its key overnight interest rates steady on Thursday, its 10th pause since it stopped lowering rates in September 2009, the central bank said on its website.

It kept the overnight lending rate steady at 9.75 per cent and the deposit rate at 8.25 percent, the website said. It also left the discount rate unchanged at 8.5 per cent.

All 13 economists in a Reuters poll this week forecast that the bank's Monetary Policy Committee would keep rates steady.

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