Egypt Central Bank keeps interest rates unchanged

The rates remain at the highest level for three years as downwards pressure on the currency continues

Monday 22 October 2012 at 10:10

Egypt's Central Bank kept interest rates unchanged at their highest level in more than three years in order to fight off downward pressure on the country's currency.

The Central Bank's monetary-policy committee announced after its meeting on Thursday that it would leave the overnight deposit rate at 9.25% and the overnight lending rate at 10.25%. The discount rate was also left unchanged at 9.5%.