Interest Rates

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.

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.

More