The central bank of Egypt slashed its key overnight deposit rate by 100bps to 15.75 percent on its February 14th 2019 meeting, while markets had expected it to remain steady at 16.75 percent. Policymakers noted that inflation rate and core inflation rate ticked up to 12.7 percent and 8.6 percent in January 2019, respectively, mainly due to unfavorable base effects. This comes after inflation declined to 12% in December, and then the CBE’s first inflation target of 13 percent (±3 percent) for 2018 Q4 that was announced in May 2017 has been achieved. Also, GDP growth came stronger at 5.5% in Q4 2018 from 5.3% in Q3 2018 and unemployment fell to 8.9%, its lowest level since December 2010. In addition, incoming data suggests further moderation in inflationary pressures. The central bank maintains its inflation target at 9 percent (±3 percent) on average during Q4 2020. The overnight lending rate and the discount rate were also cut to 16.75 percent and 16.25 percent, respectively. Interest Rate in Egypt averaged 11.84 percent from 1991 until 2019, reaching an all time high of 21.40 percent in October of 1991 and a record low of 8.25 percent in September of 2009.

Interest Rate in Egypt is expected to be 15.75 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Egypt to stand at 13.75 in 12 months time. In the long-term, the Egypt Interest Rate is projected to trend around 12.75 percent in 2020, according to our econometric models.

Egypt Interest Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-09-27 05:45 PM Interest Rate Decision 16.75% 16.75% 16.75% 16.75%
2018-11-15 06:00 PM Interest Rate Decision 16.75% 16.75% 16.75% 16.75%
2018-12-27 06:00 PM Interest Rate Decision 16.75% 16.75% 16.75%
2019-02-14 05:30 PM Interest Rate Decision 15.75% 16.75% 16.75% 16.75%
2019-03-28 05:00 PM Interest Rate Decision 15.75% 16.75% 15.75%
2019-05-23 04:00 PM Interest Rate Decision 15.75%
2019-07-11 04:00 PM Interest Rate Decision 15.75%


Egypt Money Last Previous Highest Lowest Unit
Interest Rate 15.75 16.75 21.40 8.25 percent [+]
Money Supply M0 664144.00 660763.00 735428.00 68043.00 EGP Million [+]
Money Supply M1 832658.00 836071.00 840103.00 33680.00 EGP Million [+]
Money Supply M2 3643134.00 3628732.00 3643134.00 161125.00 EGP Million [+]
Banks Balance Sheet 5080570.00 4420860.00 5080570.00 156312.00 EGP Million [+]
Foreign Exchange Reserves 44060.20 42616.00 44513.00 13448.00 USD Million [+]
Loans to Private Sector 834590.00 828483.00 834590.00 220898.00 EGP Million [+]
Deposit Interest Rate 12.20 11.80 13.60 3.00 percent [+]
Lending Rate 16.75 17.75 19.75 9.25 percent [+]
Central Bank Balance Sheet 5432802.00 5577938.00 5577938.00 1198240.00 EGP Million [+]


Egypt Interest Rate

In Egypt, interest rate decisions are taken by the Central Bank of Egypt (CBE). The Central Bank of Egypt official interest rate is the overnight deposit rate. The CBE is committed to achieving, over the medium term, low rates of inflation which it believes are essential for maintaining confidence and for sustaining high rates of investment and economic growth. This page provides - Egypt Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Egypt Interest Rate - actual data, historical chart and calendar of releases - was last updated on March of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
15.75 16.75 21.40 8.25 1991 - 2019 percent Daily




Country Last Previous
Argentina 63.74 Mar/19
Turkey 24.00 Mar/19
Mexico 8.25 Feb/19
Russia 7.75 Feb/19
South Africa 6.75 Feb/19
Brazil 6.50 Feb/19
India 6.25 Feb/19
Indonesia 6.00 Feb/19
China 4.35 Feb/19
Saudi Arabia 3.00 Feb/19
United States 2.50 Feb/19
Canada 1.75 Mar/19
South Korea 1.75 Feb/19
Singapore 1.66 Feb/19
Australia 1.50 Mar/19
United Kingdom 0.75 Feb/19
Euro Area 0.00 Mar/19
France 0.00 Mar/19
Germany 0.00 Mar/19
Italy 0.00 Mar/19
Netherlands 0.00 Mar/19
Spain 0.00 Mar/19
Japan -0.10 Mar/19
Switzerland -0.75 Feb/19


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