The Central Bank of Egypt Maintains Interest Rates

The Monetary Policy Committee of the Central Bank of Egypt, at its meeting today, Thursday, September 21, 2023, decided to maintain the interest rate at the current level.

Interest Rates Stay Unchanged

The overnight deposit and lending rates and central bank core operations rate were fixed at 19.25%, 20.25%, and 19.75% respectively, while the lending and discount rates were fixed at 19.75%.

Consistent Decision

The Central Bank’s Monetary Policy Committee kept the interest rate unchanged for 4 meetings, while in two meetings it increased the interest rate by about 1% and 2%, for a total of 3% through 2023.

Source: RT