By Central Bank News
The Central Bank of Egypt held its benchmark overnight deposit rate unchanged at 9.25 percent along with its other interest rates.
The bank issued the following statement:
In its meeting held on September 6, 2012, the Monetary Policy Committee (MPC) decided to keep the overnight deposit rate and overnight lending rate unchanged at 9.25 percent and 10.25 percent, respectively, and the 7‐day repo at 9.75 percent. The discount rate was also kept unchanged at 9.5 percent.
While headline CPI inched up by 0.38 percent (m/m) in July, the annual rate continued on a downward trend reaching 6.39 percent from 7.26 percent recorded in the previous month. Similarly, annual core CPI con