The Central Bank of Egypt’s (CBE) Monetary Policy Committee (MPC) has decided to maintain the overnight deposit rate, overnight lending rate, and the rate of the main operation at 11.25%, 12.25%, and 11.75%, respectively, according to a press release on June 23rd.
The CBE also kept the discount rate at 11.75%, the release showed.
It is worth noting that the MPC holds a meeting on Thursday every six weeks. The last meeting was held on May 19th and saw a hike of 200 basis points (bps) in the overnight deposit rate, overnight lending rate, and the rate of the main operation.
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