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https://arabic.sputniknews.com/business/202006251045831176-%D9%82%D8%B1%D8%A7%D8%B1-%D9%85%D9%86-%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A-%D8%A8%D8%B4%D8%A3%D9%86-%D8%A3%D8%B3%D8%B9%D8%A7%D8%B1-%D8%A7%D9%84%D9%81%D8%A7%D8%A6%D8%AF%D8%A9/
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Today, Thursday, the Central Bank of Egypt issued a decision regarding interest rates on deposits and lending in banks.
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The Central Bank announced, after the meeting of the Monetary Policy Committee, the fixing of interest rates on overnight deposit and lending rates and the price of the main operation at 9.25%, 10.25% and 9.75%, respectively, according to the newspaper, “Seventh Day”.
After the meeting, the Monetary Policy Committee decided to fix the credit and discount rate at 9.75%.
It is noteworthy that the current interest rate was, by decision of the Central Bank of Egypt, in the middle of March.
The central bank cut the overnight deposit rate to 9.25 percent, lending to 10.25 percent, and the main process price to 9.75 percent, according to Reuters.
The bank said in its statement that the decision comes “in light of … what the Egyptian Central Bank is used to take pre-emptive steps in exceptional circumstances.”
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