Egypt sees first cut for nearly three years
The central bank's Monetary Policy Committee lowered its policy overnight deposit rate by a full percentage point to 10.5% as inflation continued to fall.
"Annual headline CPI inflation fell to 14.3% in January 2009," the central bank noted compared to figures of 20.3% and 18.3% in November and December, respectively.
The fall in food prices was a key driver the central bank said and noted that "the sharp
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