Cairo: The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) announced Thursday a one percent (100 basis point) reduction in key policy rates, signalling a shift toward monetary easing as inflationary pressures ease and economic recovery continues, the CBE said in a statement. According to State Information Service Egypt, the announcement was made following the MPC meeting held on Thursday to review the key interest rates. It also follows a regular press briefing held a few hours ago in which the International Monetary Fund (IMF) reaffirmed its support for the Egyptian economy amid the ongoing challenges. As of today's decision, the overnight deposit rate was lowered to 24 percent, the overnight lending rate to 25 percent, and the main operation rate to 24.50 percent. Additionally, the discount rate has also been cut to 24.50 percent. The decision reflects an updated assessment of both global and domestic economic conditions since the MPC's last meeting in April. This is the second cut th e CBE has introduced since the start of 2025. The last slash the CBE applied was during the MPC's April meeting.