Egypt has increased its interest rates by 2 percentage points, from 16.75% to an annual rate of 18.75%.
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 May22th 2017, when the Central Bank increasedinterest rates by 2 percentage points to 16.75%.