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Egypt freezes interest rates
- Egypt: Sunday, December 09 - 2012 at 04:58
Egypt's central bank has kept interest rates on hold, saying inflation could rise higher and warned that political turmoil could hurt the economy, Reuters has reported. The bank's Monetary Policy Committee (MPC) left its key overnight lending rate steady at 10.25% and the overnight deposit rate at 9.25% after its regular meeting. "Given the balance of risks surrounding the inflation and gross domestic product outlooks and the uncertainty at this juncture, the MPC judges that the current key central bank of Egypt rates are appropriate," the bank said.
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