Egypt sees first cut for nearly three years

The Central Bank of Egypt cut interest rates for the first time since April 2006 on Thursday.

The central bank's Monetary Policy Committee lowered its policy overnight deposit rate by a full percentage point to 10.5% as inflation continued to fall.

"Annual headline CPI inflation fell to 14.3% in January 2009," the central bank noted compared to figures of 20.3% and 18.3% in November and December, respectively.

The fall in food prices was a key driver the central bank said and noted that "the sharp

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 info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com 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

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

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

.