Central Bank of Egypt Raises Key Interest Rates by 2%

Central Bank of Egypt Raises Key Interest Rates by 2%

Egypt's Central Bank in Cairo courtesy of Reuters
Egypt’s Central Bank in Cairo | REUTERS

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.

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Senior Editor at Egyptian Streets and Adjunct Professor at the Department of Journalism and Mass Communication at the American University in Cairo. Holds a master's degree in Global Journalism from the University of Sheffield, where she wrote a dissertation about the effect of disinformation on the profession of journalism. Passionate about music, story-telling, baking, social justice, and taking care of her plants. "If you smell something, say something." -Jon Stewart, 2015

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