#economy
Egypt’s central bank cut interest rates for the first time by 2.25 percent in over five years on Thursday, April 17, saying falling prices could lead to more cuts soon, according to an official statement. The overnight deposit rate is now 25 percent, the overnight lending rate is 26 percent, and the main operation rate is 25.5 percent. The discount rate was also brought down and now matches the main operation rate at 25.5 percent. These rates affect how…
