Egypt Deploys Rate Cut, Liquidity Boost to Spur Economy

Egypt cut interest rates to their lowest since mid-2023 and trimmed the reserve ratio for banks, stepping up efforts to spur business borrowing and speed an economic revival.

The central bank reduced the benchmark deposit rate by 100 basis points to 19%, the Monetary Policy Committee said Thursday in a statement. The lending rate was lowered by the same amount to 20%.