Central Bank of Egypt: interest rates unchanged for 12th consecutive time

Ahram Online, Friday 11 Mar 2011

Deposit and overnight lending rates remain the same, and the discount rate is also unchanged

In its meeting held yesterday, 10 March, the Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) decided to keep the overnight deposit rate and overnight lending rate unchanged at 8.25 per cent and 9.75 per cent respectively, said a CBE press release.

It is the 12th time in row to keep interest rates unchanged. The discount rate was also kept unchanged at 8.5 per cent.

The CBE has decided to launch regular repurchasing agreements (repo) as part of its monetary policy operational framework every Tuesday, starting 22 March. The main open market operation will be a seven‐day repo set by the MPC at 9.25 per cent, the press release added.

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