Cairo – Mubasher: The Central Bank of Egypt’s (CBE) Monetary Policy Committee (MPC) has decided to keep the overnight deposit rate, overnight lending rate, and the rate of the main operation unchanged at 9.25%, 10.25%, and 9.75%, respectively.

The discount rate was also kept unchanged at 9.75%, according to a CBE statement on Thursday.

The decision remains consistent with achieving the inflation target of 9% by the fourth quarter (Q4) of 2020 and price stability over the medium term, the statement added.

On 16 March 2020, the CBE decided to cut interest rates by 300 basis points (bps) in an unscheduled MPC meeting.