The US Federal Reserve announced a 25-basis-point cut at a range between 4% and 4.25%, according to a statement issued by the Federal Open Market Committee (FOMC).

The US Federal Reserve held interest rates unchanged, maintaining the target range between 4.25% and 4.5%, as per by the Federal Open Market Committee’s (FOMC) statement.

Banque Misr and the National Bank of Egypt (NBE) cut interest rates on their three-year term certificates of deposit (CDs) in US dollars by 0.5%, effective March 17th.

The Federal Reserve has decided to lower its target range for the federal funds rate by 0.25% to between 4.25% and 4.50%.

The Central Bank of Egypt (CBE) has sold nine-month treasury bills (T-bills) worth around EGP 94.4 billion in an auction on March 10th.

The US Federal Reserve kept interest rates unchanged at its current 22-year high.

Mashreq Bank Egypt has raised the interest rate offered on its three-year savings certificates in Egyptian pound to 19.5% from 18.75%.