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CAIRO — The Monetary Policy Committee of the Central Bank of Egypt (CBE) decided Nov. 15 to leave key interest rates steady, keeping the deposit rate at 16.75% and the lending rate at 17.75% for the fifth consecutive quarter amid a rising inflation rate that stood at 17.7% in October, compared to 16% in September.
This raised questions about the bank’s ability to reach the target inflation rate of 13% (± 3%) during the fourth quarter of 2018.
