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Central Bank of Egypt Maintains Interest Rate at Current Level: Monetary Policy Committee Decision

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Central Bank of Egypt Maintains Interest Rate

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The Monetary Policy Committee of the Central Bank of Egypt has announced its decision to keep the interest rate unchanged at the current level.

Interest Rates Fixed

The overnight deposit rate, lending rate, and central bank core operations rate have been maintained at 19.25%, 20.25%, and 19.75% respectively. Additionally, the lending and discount rates have been fixed at 19.75%.

Consistent Decision

This is the fourth consecutive meeting in which the Central Bank’s Monetary Policy Committee has chosen to keep the interest rate steady. However, in two previous meetings, the interest rate was raised by approximately 1% and 2%, resulting in a cumulative increase of 3% throughout 2023.

Source: RT

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