The Central Bank of Egypt’s (CBE) Monetary Policy Committee (MPC) decided on Thursday to cut the overnight deposit rate, overnight lending rate, and the rate of the main operation by 0.5 per cent (50 bps) to reach 8.25 per cent, 9.25 per cent, and 8.75 per cent, respectively.
The Central Bank of Egypt (CBE) has extended the current exemption of domestic EGP transfers from commission and fees until 15 September.
Egypt has issued dollar-denominated eurobonds worth $5 billion to provide urgent funding to deal with the coronavirus crisis, the finance ministry announced on Friday, describing it as the biggest international bond issuance in its history.
Egypt's central bank left its key interest rates unchanged for the second time and reiterated its view that keeping rates steady is consistent with achieving its inflation target of 9 percent, plus/minus 3 percentage points in the fourth quarter of this year.
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