Egyptian central bank cuts interest rate on the pound 200 points

Media In – Cairo
The Central Bank of Egypt (CBE) cut interest rates on the pound by 200 basis points over the past three months.
With interest rates at 16.75 and 17.75 on lending and deposit respectively after inflation fell.
Meanwhile, loan portfolios at banks grew by 12.2% last year to reach 1.452 trillion against 1.293 trillion in December 2016.
While deposits of banks during the same period increased by an unprecedented increase to reach 568.25 billion pounds, an increase of 20.58% to reach 3.329 trillion pounds by the end of December 2017 compared to 2.761 trillion pounds by the end of 2016.