Egypt's Central Bank Keeps Interest Rates Steady

Forex - The Central Bank of Egypt (CBE) did not change the policy interest rate for the sixth consecutive meeting, in line with expectations. According to the announcement by the CBE, the benchmark overnight deposit rate was maintained at 27.25%. The CBE decided to keep the overnight lending rate at 28.25% and the discount rate at 27.75%. In Egypt, annual headline inflation was reported at 25.5% in November, while core inflation was at 23.7%.