Egypt’s central bank, as widely expected, left its overnight interest rates unchanged on Thursday, saying it was focused on future rather than present inflation and that economic growth appeared to have been stable in the July-September quarter.
The central bank’s Monetary Policy Committee (MPC) left the lending rate at 20.25% and the deposit rate at 19.25%, it said in a statement.
The median forecast in a poll of 16 analysts had been for the MPC to leave rates steady. Three analysts had expected a hike of 100 basis points (bps).
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