Cairo – Mubasher: The Central Bank of Egypt's (CBE) monetary policy committee decided on Thursday to raise the overnight deposit rate, overnight lending rate and the rate of the CBE's main operation by 150 bps to 10.75%, 11.75% and 11.25% respectively.
The discount rate was also raised by 150 bps to 11.25%.
On March 14, 2016, the CBE decided to adopt a more flexible exchange rate regime that better reflects the underlying forces of supply and demand and in order to correct the imbalances that affected the foreign exchange flows in the banking sector.
