Egypt Central Bank keeps interest rates unchanged

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

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%.

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