For the second month in a row, the Central Bank of Egypt (CBE) decided on Thursday to leave its key policy rates unchanged, citing prevailing inflationary pressures and mounting uncertainties in the global economic environment.
The overnight deposit rate was maintained at 19 percent, while the overnight lending rate and the rate of the main operation were kept at 20 percent and 19.5 percent, respectively. the CBE also left the discount rate unchanged at 19.5 percent.
The CBE said the decision reflects its assessment of current and expected inflation trends amid an increasingly challenging external backdrop.
