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Egypt lifts overnight rates
- Egypt: Saturday, November 04 - 2006 at 06:38
Egypt's central bank has raised its overnight deposit and lending rates to 8.5% and 10.5% respectively, both up 0.5%, Reuters reported. Accelerating economic growth pushed the consumer price index to 9.6% in September, its highest level since January 2005. The government expects the annual inflation rate to remain high in the short term.
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James McInerney, News EditorSaturday, November 04 - 2006 at 06:38 UAE local time (GMT+4)
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This article was updated on Thu Nov 16 2006.
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