The Central Bank of Egypt has decided on Thursday to maintain interest rates.
Overnight deposit rate, overnight lending rate, and the rate of the main operation will remain unchanged at 16.75%, 17.75%, and 17.25%, respectively.
The discount rate was also kept unchanged at 17.25%, according to the statement issued by the CBE after the meeting of the Monetary Policy Committee (MPC).
The highly-expected decision as inflation rates continues to decline
CBE is expected to monitor the market in the upcoming period, as it could decide to further decrease interest in its next meeting on 27 September.
Recent data by the Central Agency for Public Mobilization and Statistics showed that inflation recorded 13% in July, compared with 34.2% in the same period last year.