Egypt has increased its interest rates by 2 percentage points, from 14.75% to an annual rate of 16.75%.
The key rates a tool used by Central Banks to implement monetary policy.
An increase in interest rates is used to slow down inflation and protect the currency. .
This change is the first to have taken place since on November3th 2016, when the Central Bank increasedinterest rates by 2 percentage points to 14.75%.