From Tradearabia.com: Egypt’s central bank cut its key overnight interest rates by 50 basis points on Friday, citing slowing inflation and reduced growth in the manufacturing sector and in Suez Canal receipts due to the global economic slowdown.

The bank said it cut its overnight deposit rate to 10 per cent and its overnight lending rate to 12 per cent, following a 100 basis point cut at the bank’s last policy meeting in February…..Full Article: Source