Mubasher: Egypt's Monetary Policy Committee (MPC) gave the go-ahead to keep interest rates unchanged in Thursday meeting.
Thus, the country's overnight deposit rate, overnight lending rate, and the rate of the CBE's main operation are still standing at 11.75%, 12.75 %, and 12.25%, respectively.
Further, the discount rate was at 12.25%, the same as June's level.
This move coincides with the government's talks over a $12 billion from the International Monetary Fund.
Earlier, a number of economists told Mubasher that the bank of Egypt is likely to keep key interest rates on hold in order to avoid raising the government's debt service and budget deficit that will hinder the main objective of the recent decision take by the committee regarding the pound's devaluation and the development of local investments.
