MPC
The overnight deposit rate, overnight lending rate, and the rate of the main operation were kept at 9.25 percent, 10.25 percent, and 9.75 percent, respectively.
The discount rate was also kept unchanged at 9.75 percent, according to MPC’s decision.
In a statement published on Thursday, CBE stated that the decision comes as a result of monthly inflation, prices of fresh vegetables, GDP growth and global economic activity.
The discount rate was also kept unchanged at 12.75 percent.
"We have penciled in a 50bp cut in the overnight deposit rate, to 11.75 percent, at next week’s meeting and expect it to be cut further to 10 percent by year-end.”
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 Monetary Policy Committee meeting scheduled for December 26, 2019 has been changed to January 16, 2020.
The overnight deposit rate, the overnight lending rate, and the rate of the main operation are cut to be at 12.25 percent, 13.25 percent, and 12.75 percent, respectively.
"The CBE can comfortably cut rates in the coming meeting," Senior Economist at Shuaa Securities Esraa Ahmed said.
Registering a fourth consecutive monthly decline, Egypt’s inflation rates opened speculation once again in September about the expectations of possible interest rate decisions during November.
Registering a fourth consecutive monthly decline, Egypt’s inflation rates opened speculation once again in September about the expectations of possible interest rate decisions during November.
CBE reviewed the reasons behind this decision in a press release.
The overnight deposit rate, the overnight lending rate, and the rate of the main operation are cut to be at 13.25 percent, 14.25 percent, and 13.75 percent, higher than economists’ expectations.
Analysts go for cutting the rates but expecting it not be aggressive.
August's meeting is CBE's fifth meeting in 2019, which ended with cutting the rates amid a global wave of interest rates cut, decline of inflation rate to a four-year low, and the hovering prices of oil around $60 per barrel.
Egypt's Central Bank (CBE) is expected to cut interest rates on Thursday's, August 22, meeting by around 100 basis points.
The overnight deposit rate and the overnight lending rate were cut at 15.75 percent and 16.75 percent, respectively, during the fourth meeting of 2019.
The overnight deposit rate and the overnight lending rate were kept at 15.75 percent and 16.75 percent, respectively, during May’s meeting.
The Monetary Policy Committee of the Central Bank of Egypt (CBE) will meet Thursday, May 23, to discuss the interest rates.
The Monetary Policy Committee of the Central Bank of Egypt kept the overnight deposit rate and the overnight lending rate at 15.75 percent and 16.75 percent, respectively.