Central Bank leaves interest rates unchanged in first meeting of 2014

Ahram Online, Thursday 16 Jan 2014

The Monetary Policy Committee of the Central Bank held its first meeting in 2014

File photo: Vehicles drive by in front of Central Bank of Egypt headquarters in Cairo in this December 30, 2012 (Photo: Reuters)

Egypt's Central Bank on Thursday left its key-lending rate unchanged at 9.25 percent and the deposit rate at 8.25 percent after its regular meeting, the Monetary Policy Committee announced in a statement.

The committee had lowered interest rates three times in 2013, worrying analysts about the consequences on inflation.

The statement said slow growth and low investment would limit risks of increasing inflation. 

The bank also left the discount rate unchanged at 8.75 percent.

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