August 22, 2019 / 5:03 PM / 2 months ago

Egypt's central bank cuts lending and deposit rates by 150 basis points

CAIRO, Aug 22 (Reuters) - Egypt’s central bank on Thursday cut the overnight deposit rate by 150 basis points to 14.25% after July inflation figures came in significantly below expectations.

The overnight lending rate was cut by 150 basis points to 15.25%, the bank said in a statement.

Seven out of 13 economists surveyed by Reuters had said the bank’s monetary policy committee would cut overnight rates by 100 bps.

Reporting by Ulf Laessing Editing by Gareth Jones

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below