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The currency weakened to beyond 50 Egyptian pounds to the dollar. ... The central bank said it had raised the overnight lending rate to 28.25% and its overnight deposit rate to 27.25%, as part of ...
On March 6, 2024, in an extraordinary meeting of the Monetary Policy Committee, the Central Bank of Egypt decided to raise interest rates by 600 basis points, bringing the overnight deposit, lending and main operation rates to 27.25%, 28.25%, and 27.75% respectively.
Egypt on Wednesday floated its currency and announced a deal with the International Monetary Fund to increase its bailout loan from $3 billion to $8 billion, moving to shore up an economy hit by a ...
The overnight rate is generally the interest rate that large banks use to borrow and lend from one another in the overnight market. In some countries (the United States , for example), the overnight rate may be the rate targeted by the central bank to influence monetary policy .
currency union Central bank interest rate (%) Change Effective date of last change Average inflation rate 2017–2021 (%) by WB and IMF [1] [2] as in the List Central bank interest rate minus average inflation rate (2017–2021) Afghanistan: 6.00 3.00: 24 July 2021 [3] 3.38 2.62 Albania: 2.75 0.25: 6 November 2024 [4] 1.78 0.97 Algeria: 3.00 0. ...
The Egyptian central bank slashed its main interest rates by 300 basis points at an unscheduled meeting on Monday, saying it was a "pre-emptive" move to support the economy. Egypt has registered ...