Egypt c.bank cuts key interest rates by 50 bps -statement
CAIRO Dec 5 (Reuters) - Egypt's central bank cut its key interest rates by 50 basis points in a surprise move at a monetary policy meeting on Thursday.
The bank cut its overnight deposit rate to 8.25 percent, its overnight lending rate to 9.25 percent. It also cut its discount rate and the rate it uses to price one-week repurchase and deposit operations to 8.75 percent, the bank said in a statement on its website.
Seven economists surveyed by Reuters had expected the bank to leave its rates unchanged. (Reporting By Shadia Nasralla; Editing by Michael Georgy)
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