The Central Bank’s monetary policy committee examines the deposit and lending interest rate

0
11


The Monetary Policy Committee of the Central Bank of Egypt is now holding a meeting to discuss deposit and lending interest rates, amid a split between analysts, about the likely possibility of stabilizing interest rates, and expectations for a rate cut of between 0.5% and 1%.

The Monetary Policy Committee of the Central Bank of Egypt decided at its last meeting on Thursday, November 14, 2019 to reduce the price of the return on deposits and lending for one night and the price of the main operation of the Central Bank by 100 basis points, or 1%, to reach 12.25%, 13.25% and 12.75%. The arrangement, the credit and discount rate was reduced by 100 basis points to 12.75%.

In times of economic slowdown and high inflation, Egyptians resort to investing their money surpluses in safe and profitable investment havens that achieve a return that absorbs inflationary effects – the high level of prices of goods and services – and those investment vessels work to develop financial resources through several means.

LEAVE A REPLY

Please enter your comment!
Please enter your name here