Central Bank of Egypt in Cairo | Reuters
The Egyptian central bank’s Monetary Policy Committee (MPC) raised key interest rates by two percent on March 30 to combat rocketing inflation.
Despite a meeting in February, this is the MPC’s first interest rate change this year.
The MPC also raised the overnight deposit rate to 18.25 percent, the overnight lending rate to 19.25 percent, and the main operating rate to 18.75 percent.
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