Egypt's Banque Misr issuing 3-year certificate starting with 30% interest rate, chief says

Egypt's state-bank Banque Misr is issuing a three-year certificate with a 30% interest rate for the first year, 25% for the second year, and 20% for the third year, the bank's chief told local TV channel Extra News on Wednesday.

The Egyptian central bank earlier hiked the key interest rates by 600 basis points at an unscheduled meeting.