Egypt central bank hikes key interest rates 200 basis points -c.bank statement

Reuters

CAIRO, May 21 (Reuters) – Egypt’s central bank raised its key interest rates by 200 basis points on Sunday at a meeting of its Monetary Policy Committee, it said in a statement.

The bank hiked its overnight deposit rate to 16.75 percent from 14.75 percent and its overnight lending rate to 17.75 from 15.75 percent, the first increase in rates since it aggressively hiked them by 300 points in November after floating its pound currency.

(Reporting by Eric Knecht; Editing by Alison Williams)

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