Egypt cbank cuts rates for first time in 28 months

EGYPT - Egypt's Central Bank on Apr 12 cut its discount rate to 11.5 percent from 12 percent in a move welcomed by market operators, but which some analysts feared would do too little to boost the sluggish economy.

The half point cut, the bank's first rate adjustment for 28 months, was announced by a bank official who gave no further details. The bank last changed rates on December 17, 1998, when it cut the discount rate to 12 from 12-1/4 percent.

The latest cut followed a reduction in central

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account