Egypt's central bank makes first rate hike since March 2024

CAIRO, Oct 29 (Reuters) - Egypt's central bank raised its key interest rates by 100 basis points on Thursday, the first hike by the bank since March 2024.

The monetary policy committee raised the deposit rate to 20% from 19% and the lending rate to 21% from 20%, ⁠the bank said.

Reporting by Yomna Ehab, Enas Alashray and Ahmed Tolba; Editing by Susan Fenton and David Holmes