Cairo – Mubasher: Egypt's central bank said its monetary policy committee met on Thursday to discuss interest rates, but would reconvene on 24 December after it meets with the government.
The Central Bank of Egypt is keen in fulfilling its mandate of price stability for the purpose of sustainable economic growth and job creation. This mandate is only achievable through full coordination and commitment on macroeconomic objectives with the government, including targets for fiscal consolidation, current account outturns, and the implementation of urgent structural economic reforms, the bank said on its website.
President Abdel Fattah El-Sisi appointed Tarek Amer as CBE Governor on 21 October, in place of Hisham Ramez who stepped down.
The central bank decided on 29 October to keep the overnight deposit rate, overnight lending rate, and the rate of the CBE’s main operation unchanged at 8.75%, 9.75% and 9.25%, respectively. The discount rate was also kept unchanged at 9.25%.
