The Central Bank of Egypt reduces the key interest rate by 100 basis points

At its meeting today, the Central Bank of Egypt reduced key interest rates by one percentage point.
The Monetary Policy Committee decided to ease monetary policy to confront the slowdown in inflation and support economic activity, as it reduced the overnight deposit and lending rates and the central bank’s main operation rate by 100 basis points to 20.00%, 21.00%, and 20.50%, respectively.