Friday, March 11, 2011

Egypt Central Bank Holds Rate at 8.25%

The Central Bank of Egypt announced no changed to its overnight deposit rate (8.25%) and overnight lending rate (9.75%), following a period of unrest in the country and region. The Bank also said it would launch regular repurchasing agreements (repo) as part of its monetary policy operational framework in the form of a 7‐day repo set by the MPC at 9.25 percent. Egypt recorded headline CPI inflation of 10.79% in February, compared to 10.71% in January.


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