MPC decides to cut key policy rates by 100 basis points

The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) today decided to cut the CBE’s overnight deposit rate, overnight lending rate, and the rate of the main operation by 100 basis points to 20.00 percent, 21.00 percent, and 20.50 percent, respectively. The Committee also decided to cut the discount rate to 20.50 percent. This decision reflects the Committee’s current assessment of inflation dynamics and evolving outlook since the previous MPC meeting