Central Bank of Egypt Raises Key Interest Rates by 2%

The Egyptian central bank’s Monetary Policy Committee (MPC) raised the key interest rates by two percent on 30 March to cope with rocketing inflation.

Despite meeting in February, this is the MPC’s first change in interest rates this year.

The MPC further raised the overnight deposit rate to 18.25 percent, the overnight lending rate to 19.25 percent, and the main operation rate to 18.75 percent.