Egypt has increased its interest rates by 3.00 percentage points, from 11.75% to an annual rate of 14.75%.
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 June19th 2016, when the Central Bank increasedinterest rates by 3.00 percentage points to 11.75%.