In a move that met market expectations, the Central Bank of Egypt has kept its overnight lending rate unchanged at 28.25%. The decision marks the second consecutive month that the rate has held steady at this level, as the bank continues to navigate a challenging economic landscape.The update, released on September 5, 2024, indicates that the central bank is maintaining its cautious stance amid persistent inflationary pressures and economic volatility. Analysts suggest that this pause is part of a broader strategy to provide stability while evaluating the impact of previous monetary policy adjustments.Economists will be closely monitoring upcoming data releases to gauge the effectiveness of the current rate in curbing inflation and supporting economic growth. The consistency in the lending rate underscores the central bank’s commitment to balancing economic priorities.Stay tuned for further updates as the financial landscape evolves.The material has been provided by InstaForex Company – www.instaforex.com
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