Egypt Holds Rates as Price Hikes and Mideast Crisis Spur Caution

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(Bloomberg) — Egypt kept interest rates at a record high as it contends with an unexpected climb in inflation and fears of a wider conflict in the Middle East.

The central bank maintained its deposit rate at 27.25% and the lending rate at 28.25%, its Monetary Policy Committee said Thursday in a statement. The country’s fourth hold in a row was correctly predicted by all nine economists surveyed by Bloomberg. 

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