The Central Bank of Egypt kept its key overnight deposit rate steady at an over five year-high of 18.25% on May 18th 2023, as expected, after raising it by 200 bps in March. The Committee said it continues to assess the impact of the cumulative policy rate hikes of 1000 bps since March 2022 in addition to the 400 bps increase in the required reserve ratio in September 2022, to contain inflationary pressures. Policymakers noted that headline inflation eased for the first time in 10 months in April, to 30.6%, after several rises that culminated in a nearly 6-year peak of 32.7% in March. Regarding activity, the Bank reported that the economy posted a 3.9% year-on-year expansion in Q4 of the 2022 calendar year, slightly below Q3’s 4.4% growth, indicating that growth during the first half of fiscal year 2022/23 registered 4.2%. Going forward, real GDP growth is expected to slow down in the fiscal year 2022/23 compared to the previous fiscal year, before recovering thereafter. source: Central Bank of Egypt
Interest Rate in Egypt averaged 11.78 percent from 1991 until 2023, 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. This page provides - Egypt Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Egypt Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2023.
Interest Rate in Egypt is expected to be 18.25 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Egypt Interest Rate is projected to trend around 16.50 percent in 2024 and 13.50 percent in 2025, according to our econometric models.