The Central Bank of Egypt (CBE) decided to keep the overnight deposit interest rates unchanged at 16.75% and to also maintain the overnight lending rate at 17.75% in a meeting on Thursday, May 17, Invest-Gate reports.

Real GDP has been improved for the fifth consecutive quarter to record 5.3% last December with an average of 5% in 2017, the highest since 2010.

Meanwhile, the unemployment rate has fallen to 10% which is the lowest since 2010.

CBE revealed that despite the increase in international oil prices, which recorded USD 80 per barrel on Thursday for the first time since November 2014, the outlook for the inflation rate still matches the forecast for the fourth quarter of 2018.