Economics
Egypt Keeps Interest Rate on Hold With an Eye on Fed Tapering
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Egypt left interest rates unchanged Thursday as authorities weigh the potential impact of U.S. Federal Reserve tapering on the local debt market.
The central bank maintained the benchmark deposit rate at 8.25% and the lending rate at 9.25%, the Monetary Policy Committee said in a statement. All 13 economists surveyed by Bloomberg predicted what is Egypt’s seventh consecutive hold, after combined cuts of 400 basis points last year.