The Central Bank of Egypt left key interest rates unchanged
at its Thursday, 16 August meeting. The widely expected move saw the bank leave its overnight deposit and lending rates on hold at 16.75% and 17.75%, respectively, with the main operation and discount rates also stable at 17.25%, the CBE said in a statement. Global financial conditions — including rising international oil prices and increased pressure on emerging market economies — coupled with subsidy cuts pose a downside risk to inflation levels, the CBE notes.
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