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Interest rates increased by Egyptian central bank


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The Monetary Policy Committee of the Central Bank of Egypt announced at its meeting today Thursday that it will raise interest rates on deposits and loans overnight.

The Central Bank of Egypt raised the price of the central bank’s main operation by 2%, 18.25%, 19.25% and 18.75% respectively.

The Central Bank of Egypt decided in its first decision in 2023 to raise the yield on the loan and the discount rate to 18.75%.

The annual inflation rate of the Central Bank recorded a historical level of 40.3% at the end of February last year amid expectations of continued growth to new levels.

Source: Cairo 24

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