Deposit Rate
The Monetary Policy Committee (MPC) decided 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. The discount rate was also kept unchanged at 8.75 percent.
MPC also kept the interest rates unchanged during May’s meeting after lowering them twice earlier this year by 1 percent each time.
The Monetary Policy Committee of the Central bank of Egypt lowered the interest rates twice earlier this year by 1 percent each time.
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