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The National Bank of Egypt (NBE), the largest state-run lender, will offer a three-year certificate of deposit at 17.25 percent, its deputy chairman Yehia Aboul Fotouh announced on Thursday.
The move followed the central bank’s monetary policy committee meeting this morning which decided to hike key interest rates by 200 basis points, setting the overnight lending rate at 14.25 percent and the overnight deposit rate at 13.25 percent.
