- Egypt keeps rates high despite slowing inflation
- Debt pressures grow as borrowing costs remain elevated
CAIRO, EGYPT – Egypt’s central bank has kept interest rates unchanged for a second straight meeting, signalling that the battle against inflation still outweighs concerns over slowing growth and mounting debt pressures.
The Central Bank of Egypt (CBE) said after its Monetary Policy Committee meeting on May 21 that it would maintain the overnight deposit rate at 19%, the lending rate at 20%, and the main operation and discount rates at 19.5%.
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