interest rate

interest rate

Egyptian Central Bank raises Interest rates to tame Inflation

1d ago
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Egypt's Central Bank, has officially raised, benchmark interest-rates. This in a bid to hold down inflation just two weeks, after the government, slashed subsidies, on fuel and electricity. The Central Bank raised the overnight deposit-rate, to 9.25 percent and the lending-rate to 10.25 percent. According to the bank, the hike is necessary, to be able to tame-inflation in order to limit a generalized price increase of goods.