Interest Rates

EGX jumps 4.3% after CBE's decisions to raise interest rates, liberalize exchange rate

Thu, 27 Oct 2022 - 11:02 GMT

By 11 PM Cairo time, the benchmark EGX30 rose 4.32 percent, reaching levels of 11,009 points.

Egypt's central bank raises interest rates 2%, adopts flexible exchange rate

Thu, 27 Oct 2022 - 09:28 GMT

The overnight deposit rate, overnight lending rate, and the rate of the main operation were raised to 13.25 percent, 14.25 percent, and 13.75 percent, respectively. The discount rate was also kept raised to 13.75 percent.

Reasons behind Egypt's central bank keeping interest rate unchanged

Thu, 22 Sep 2022 - 07:54 GMT

Al Ahly Pharos Securities Brokerage stated that the inflation as a sole factor did not urge the CBE to raise the interest rates.

Egypt's central bank keeps interest rates on hold, raises reserve ratio to 18%

Thu, 22 Sep 2022 - 06:06 GMT

The overnight deposit rate, overnight lending rate, and the rate of the main operation were kept on hold at 11.25 percent, 12.25 percent, and 11.75 percent, respectively. The discount rate was also kept unchanged at 11.75 percent.

Gulf countries raise interest rates after US rates witnessed 3rd hike

Thu, 22 Sep 2022 - 02:35 GMT

Furthermore, the Qatar Central Bank also announced raising the lending interest rate by 75 basis points to 4.5 percent, and decided to raise the deposit interest rate by 75 basis points to 3.75 percent.

Why did Egypt's central bank resort to keeping interest rates unchanged?

Thu, 18 Aug 2022 - 07:10 GMT

The overnight deposit rate, overnight lending rate, and the rate of the main operation were kept on hold at 11.25 percent, 12.25 percent, and 11.75 percent, respectively. The discount rate was also kept unchanged at 11.75 percent.

Egypt's central bank keeps interest rates unchanged for 2nd meeting in row

Thu, 18 Aug 2022 - 04:05 GMT

The overnight deposit rate, overnight lending rate, and the rate of the main operation were kept on hold at 11.25 percent, 12.25 percent, and 11.75 percent, respectively. The discount rate was also kept unchanged at 11.75 percent.

Egypt's central bank keeps interest rates on hold during June

Thu, 23 Jun 2022 - 05:36 GMT

The discount rate was also kept unchanged at 11.75 percent.

Egypt's central bank raises interest rates 200bps during May

Thu, 19 May 2022 - 04:51 GMT

The CBE’s decision comes in light with Fitch credit rating agency’s expectations that the central bank would raise interest rates at the Monetary Policy Committee’s meeting.

Egypt's central bank raises interest rates 100bps in exceptional meeting

Mon, 21 Mar 2022 - 10:33 GMT

The discount rate was also raised by 100 bps to 9.75 percent.

Capital Economics expects Egypt's central bank to hike interest rates by 50bp during March

Thu, 10 Mar 2022 - 05:48 GMT

It attributed its anticipation to the increase of inflation Egypt witnessed during February to hit 10 percent, compared to 4.9 percent in the same month of 2021.

Egypt's central bank keeps interest rates unchanged for 10th time in row during 2022's 1st meeting

Thu, 03 Feb 2022 - 03:32 GMT

The MPC decided that keeping policy rates unchanged remains consistent with achieving the inflation target of 7 percent (±2 percentage points) on average in 2022 Q4 and price stability over the medium term.

Egypt's central bank keeps interest rates unchanged for 9th time in row during 2021's last meeting

Thu, 16 Dec 2021 - 09:06 GMT

The MPC decided that keeping policy rates unchanged remains consistent with achieving the inflation target of 7 percent (±2 percentage points) on average in 2022 Q4 and price stability over the medium term.

Egypt's central bank keeps interest rates unchanged for 8th time in row

Thu, 28 Oct 2021 - 06:33 GMT

The MPC decided that keeping policy rates unchanged remains consistent with achieving the inflation target of 7 percent (±2 percentage points) on average in 2022 Q4 and price stability over the medium term.

Egypt's central bank to keep interest rates unchanged

Thu, 05 Aug 2021 - 05:34 GMT

The Monetary Policy Committee (MPC) decided, Thursday to keep the Central Bank of Egypt’s (CBE) overnight deposit rate, overnight lending rate, and the rate of the main operation unchanged at 8.25 percent, 9.25 percent, and 8.75 percent, respectively.

Egypt's central bank to keep interest rates unchanged during 2021: Capital Economics

Sun, 20 Jun 2021 - 04:16 GMT

It also expected that policymakers will reduce the overnight deposit rate by a total of 150bps the end of next year, taking it 6.75 percent. This is more easing than the consensus currently anticipates.

Egypt's central bank keeps interest rates unchanged in June

Thu, 17 Jun 2021 - 07:16 GMT

The Monetary Policy Committee (MPC) decided, Thursday, to keep the Central Bank of Egypt’s (CBE) overnight deposit rate, overnight lending rate, and the rate of the main operation unchanged at 8.25 percent, 9.25 percent, and 8.75 percent, respectively.

Egypt's central bank keeps interest rates unchanged during April

Wed, 28 Apr 2021 - 02:35 GMT

MPC decided that keeping policy rates unchanged remains consistent with achieving the inflation target of 7 percent (±2 percentage points) on average in 2022 Q4 and price stability over the medium term.

Egypt's central bank keeps interest rates unchanged during March's meeting

Thu, 18 Mar 2021 - 05:03 GMT

The discount rate was also kept unchanged at 8.75 percent.

Egypt's central bank keeps interest rates unchanged in 2021's 1st meeting

Thu, 04 Feb 2021 - 04:20 GMT

The discount rate was also kept unchanged at 8.75 percent.

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