Egypt’s Central Bank Cuts Key Interest Rates by 2.25%

Post by: Bandan Preet

Photo: WAM

The Central Bank of Egypt (CBE) made a big decision today. Its Monetary Policy Committee (MPC) lowered several important interest rates by 2.25%.

Here’s what they changed:

• The overnight deposit rate is now 25.00%.

• The overnight lending rate is now 26.00%.

• The main operation rate is now 25.50%.

• The discount rate was also reduced and is now 25.50%.

These rates were all brought down by 225 basis points, which is the same as 2.25%.

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This move was shared in an official statement by the CBE.

Interest rates are used by the central bank to control the economy. When the rates go down, it becomes easier for people and businesses to borrow money. This can help boost spending and investment.

By cutting these rates, the Central Bank likely wants to support the economy and make it grow stronger.

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