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The Central Bank sets interest rates for deposits and lending this evening

Today, Thursday, the Central Bank of Egypt announces the interest rates in Egyptian banks for deposit and lending during the meeting of the Monetary Policy Committee of the Bank this evening, Thursday.


The Monetary Policy Committee of the Central Bank of Egypt decided, at the end of its meeting, June 17, to fix the interest rate for deposits and lending overnight and the price of the main operation of the Central Bank, at 8.25%, 9.25% and 8.75%, respectively, and the credit and discount rates were fixed at 8.75%.


In times of economic slowdown and high inflation rates, Egyptians resort to employing their surplus funds in safe and profitable investment havens that achieve a return that absorbs the inflationary effects - the high level of prices of goods and services - and these investment vessels develop financial resources through several means.