Interest Rates

Egypt's central bank cancels MPC's scheduled meeting on March 28

Wed, 20 Mar 2024 - 02:49 GMT

On March 6, the CBE raised the overnight deposit rate, the overnight lending rate, and the rate of the main operation in a special meeting by 600 basis points to reach 27.25 percent, 28.25 percent, and 27.75 percent, respectively.

Egypt's central bank aims to achieve single-digit inflation rate in coming period

Wed, 06 Mar 2024 - 07:53 GMT

He highlighted the detrimental effects of maintaining dual exchange rates, which lead to instability

IMF, Egyptian authorities agree on $8B loan augmentation, reforms to address macroeconomic challenges

Wed, 06 Mar 2024 - 06:46 GMT

The IMF loan has been augmented and increased to $8 billion instead of $3 billion "due to significant macroeconomic challenges that have become more complex to manage with the impact of the recent conflict in Gaza on tourism and Suez Canal receipts," according to the IMF statement

CBE raises interest rates by 600 basis points to reach 27.75%

Wed, 06 Mar 2024 - 08:20 GMT

Additionally, the discount rate has been raised by 600 basis points to 27.75 percent

Egypt's central bank raises interest rates by 200bps during its 1st meeting of 2024

Thu, 01 Feb 2024 - 07:52 GMT

The overnight deposit rate, overnight lending rate, and the rate of the main operation have been adjusted to 21.25 percent, 22.25 percent, and 21.75 percent, respectively.

Egypt's central bank to determine key interest rates amid economic uncertainty

Thu, 01 Feb 2024 - 11:29 GMT

This committee meeting occurs amidst considerable uncertainty about the decision it might make, given the severe turmoil in the Egyptian market, both in terms of the exchange market and commodity prices. This is despite the observed slowdown in inflation in recent months.

High interest rates impact car purchases in Egypt: Dr Greiche CEO

Sun, 12 Nov 2023 - 11:26 GMT

He added that the auto glass industry is heavy in the spare part industry, and suppliers need to focus on the after-sale market to reach the final consumer.

CBE’s Monetary Policy Committee decides to keep key interest rates

Thu, 02 Nov 2023 - 06:39 GMT

Egypt’s real GDP growth for the first quarter of 2023 remained steady at 3.9 percent, compared to the previous quarter, according to the MPC statement

Egyptian pound devaluation expected amid inflation concerns, interest rates rise: Capital Economics

Sun, 13 Aug 2023 - 07:33 GMT

Capital Economics projects that the Egyptian pound will depreciate to 35 per dollar by the close of 2023, marking a 12 percent devaluation from its current rate of 30.95 per dollar.

Egypt’s central bank raises interest rates by 1%

Thu, 03 Aug 2023 - 08:20 GMT

The Monetary Policy Committee of the Central Bank of Egypt decided, Thursday, to raise its interest rates by 1 percent.

Egypt's Central Bank keeps interest rates unchanged during May meeting

Thu, 18 May 2023 - 06:58 GMT

The discount rate was also kept at 18.75 percent.

Egypt’s Central Bank raises interest rates by 2%, reaching highest level since 2017

Thu, 30 Mar 2023 - 05:21 GMT

Egypt’s Central Bank (CBE) raised on Wednesday the interest rates by 2 percent; reaching the highest level since July 2017.

Egypt's central bank keeps interest rates unchanged during 2023 first meeting

Thu, 02 Feb 2023 - 06:47 GMT

The overnight deposit rate, overnight lending rate, and the rate of the main operation were kept on hold at 16.25 percent, 17.25 percent, and 16.75 percent, respectively.

UAE, Saudi Arabia, Bahrain mirror Fed decision to raise interest rates; Egypt's CBE to convene Thursday

Wed, 01 Feb 2023 - 09:43 GMT

Qatar, on the other hand, kept its interest rate unchanged.

US interest rate hikes by 0.25 percentage point to tame inflation

Wed, 01 Feb 2023 - 09:22 GMT

The Federal Reserve raised interest rates by half a percentage point Wednesday and signaled plans to keep raising them more in 2023, capping off one of the most aggressive years in the central bank’s history, The Washington Post reported.

Egypt's central bank raises interest rates 3% during last meeting in 2022

Thu, 22 Dec 2022 - 08:48 GMT

The discount rate was also raised to 16.75 percent.

Egypt's central bank discusses interest rates with 1-2% hike expectations

Thu, 22 Dec 2022 - 11:15 GMT

Most of the expectations of economists and investment banks point to the Central Bank's direction for a new hike by about 100 points to 200 points.

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.

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