Rate Alert: Central Bank of Egypt hikes rates by 600 bps

The Monetary Policy Committee (MPC) decided in its special meeting to raise the CBE’s overnight deposit rate, the overnight lending rate, and the rate of the main operation by 600 basis points to 27.25 percent, 28.25 percent, and 27.75 percent, respectively. The discount rate was also raised by 600 basis points to 27.75 percent.

Source: CBE Press Release. Link for the release