Egypt liquidity edges higher in October – EPC

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Cairo – Mubasher: Egypt’s local liquidity edged higher month-on-month in October.

The most populous Arab country”s liquidity grew to EGP 3.56 trillion in October from EGP 3.54 trillion in September, data released by the Central Bank of Egypt (CBE) showed on Thursday.

The EPC previously said that the country’s foreign reserves increased to $44.51 billion by the end of November 2018, EPC data showed earlier this month up from $44.501 billion in October.

In mid-November, the CBE”s Monetary Policy Committee (MPC) kept interest rates unchanged at 16.75% for the overnight deposit and 17.75% for overnight lending.

The CBE’s MPC is set to meet later on Thursday, with forecasts that it would maintain interest rates.

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