Cairo: The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) decided Thursday to cut the overnight deposit rate, the overnight lending rate, and the main operation rate by 100 basis points to 21.00 percent, 22.00 percent, and 21.50 percent, respectively. 'The discount rate was also lowered by 100 basis points to 21.50 percent,' the CBE said in a statement.

According to State Information Service Egypt, the decision reflects MPC's assessment of the latest inflation developments and outlook since its previous meeting. This move indicates a strategic response to current economic indicators and is aimed at influencing inflation and financial stability.