Egypt’s Central Bank Keeps Interest Rates Unchanged

The Egyptian central bank kept its benchmark interest rate on hold at a four-year low, saying uncertainty in global economic growth may weigh on domestic investment and noting that non-food inflation remained subdued.

The Monetary Policy Committee kept the overnight deposit rate unchanged at 8.25 percent and the overnight lending rate at 9.75 percent, the Cairo-based central bank said in a statement on its website today. All five economists surveyed by Bloomberg had expected the decision.