Egypt’s central bank raises interest rates by 200 bps -statement By Reuters

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© Reuters. A general view of the new headquarters of Central Bank of Egypt, at the New Administrative Capital (NAC) east of Cairo, Egypt December 8, 2023. REUTERS/Amr Abdallah Dalsh/File Photo

CAIRO (Reuters) – Egypt’s central bank raised key interest rates on Thursday by 200 basis points (bps), it said in a statement.

The overnight lending rate was set at 22.25% while the overnight deposit rate stood at 21.25%, the bank said.

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