Egypt
Egypt’s central bank lowered its benchmark interest rates by two percentage points on Thursday, its largest reduction in over a year, as inflation eased and economic growth outpaced expectations. The Monetary Policy Committee of the Central Bank of Egypt reduced the overnight deposit rate to 22 percent from 24 percent. The overnight lending rate was cut to 23 percent, while the main operation and discount rates were lowered to 22.5 percent. In a statement, the bank said the move reflected…
