Arab Finance: The Central Bank of Egypt’s (CBE) Monetary Policy Committee (MPC) decided to cut key interest rates by 100 basis points (bp), according to a press release on May 22nd.

The overnight deposit rate and the overnight lending rate fell to 24% and 25%, respectively.

Similarly, the rate of the main operation has been cut by 100 bp to 24.5%. The discount rate has also been reduced to 24.5%.

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