March 16, 2020 / 4:13 PM / 13 days ago

Egypt's central bank cuts interest rates by 300 basis points

CAIRO, March 16 (Reuters) - Egypt’s central bank on Monday cut its main interest rates by 300 basis points, it said.

It cut the overnight lending rate to 10.25% from 13.25% and the overnight deposit rate to 9.25% from 12.25%, the bank said in a statement. (Reporting by Aidan Lewis and Nadine Awadalla Writing by Ulf Laessing)

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