Egypt cuts key interest rates by 1 pct as inflation slightly down

The Central Bank of Egypt (CBE) on Thursday lowered its key interest rates by 100 basis points, or 1 percent, the CBE reported.

The CBE said in a statement that its Monetary Policy Committee (MPC) decided to cut the deposit rate to 20 percent, the lending rate to 21 percent, and the rate of the main operation to 20.5 percent, while also reducing the discount rate to 20.5 percent.

"This decision reflects the committee's updated assessment of inflation dynamics and outlook since the previous MPC meeting," it said.

According to an earlier CBE report, annual urban headline inflation in Egypt eased slightly to 12.3 percent in November, down from 12.5 percent in October, driven by a slowdown in food price inflation, which declined to 0.7 percent in November from 1.5 percent a month earlier.

This marks the fifth interest rate cut by Egypt's central bank so far this year.

Egypt cuts key interest rates by 1 pct as inflation slightly down

Authorities in Dongping County of east China's Shandong Province launched their annual fish stocking program on Tuesday, aiming to release more than 18 million fry including silver carp, bighead carp and grass carp into Dongping Lake.

The stocking, which will run until April 18, is intended to boost fish populations, restore ecological balance and support sustainable fisheries, officials said.

Dongping has carried out the program for 22 consecutive years, releasing a total of 378 million fry, with local officials saying the effort has become a cornerstone of the lake's ecological management.

Authorities launch annual fish stocking in China's Dongping Lake to boost ecology