Egypt cuts key policy rates by 225 basis points

The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) decided today to cut the CBE’s overnight deposit rate, overnight lending rate, and the rate of the main operation by 225 basis points to 25.00 percent, 26.00 percent, and 25.50 percent, respectively.

The Committee also decided to cut the discount rate by 225 basis points to 25.50 percent, according to a CBE statement.