Egypt is lowering the major interest rates – economically – in the world today



The Central Bank of Egypt decided to cut the main interest rate by about 50 points. The interest on loans was 8.25 percent and on deposits 9.25 percent.

The Central Bank also decided at the meeting of the Monetary Policy Committee today, Thursday, to also cut the yield on the credit and discount rate by 50 basis points to the level of 8.75 percent.

It is noteworthy that the Central Bank of Egypt’s Monetary Policy Committee meets every six weeks to discuss interest rates and review monetary policy, which is why it has only one meeting this year.

This comes two days after the Central Agency for Public Mobilization and Statistics last October announced an increase in inflation to 4.5 percent per year and 2.3 percent per month.

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