Monetary Policy Committee
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
The discount rate was also kept at 18.75 percent.
Barclays will work alongside local financial advisor, CI Capital.
Egypt’s Central Bank (CBE) raised on Wednesday the interest rates by 2 percent; reaching the highest level since July 2017.
The discount rate was also raised to 16.75 percent.
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.
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.
The discount rate was also kept unchanged at 8.75 percent.
The discount rate was also kept unchanged at 8.75 percent.
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.
The discount rate was also kept unchanged at 8.75 percent.
The discount rate was also kept unchanged at 12.75 percent.
The overnight deposit rate, the overnight lending rate, and the rate of the main operation are kept at 12.25 percent, 13.25 percent, and 12.75 percent, respectively.
The experts’ predicted keeping the rates on hold, amid partial stability of emerging markets and the decline of inflation in Dec.
By keeping the rates unchanged during this meeting, it will be the sixth time in 2018 to keep the rates unchanged.
MPC set the overnight deposit rate and the overnight lending rate at 16.75 percent and 17.75 percent, respectively.
HC clarified in a statement that CBE is expected to keep the interest rates at their levels due to the global high interest rate environment.
By keeping the interest rates unchanged, MPC met the expectations of the investment banks and economic research organizations.
Despite inflationary pressure that came in June, investment banks see that the MPC will keep rates at current levels.
The Monetary Policy Committee voted 6-3 to keep rates at 0.5 percent, where they have been for most of the past decade.
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