The Central Bank of Egypt left its key overnight deposit rate unchanged at 8.25% on March 18th 2021, as expected. The overnight lending rate was also left at 9.25%, and the discount rate at 8.75%. Policymakers said the decision was consistent with achieving the inflation target of 7% (±2 percentage points) on average in 2022 Q4 and price stability over the medium term. The annual headline inflation picked up to 4.5% in February 2021 from 4.3% in January, mainly driven by higher prices of non-food commodities, such as housing & utilities (4.7%), health (5.3%), and recreation & culture (4.5 percent). The Central Bank also disclosed that the economy expanded 2.0% in Q4 of 2020, following a 0.7% increase in the prior period, according to preliminary figures. Meanwhile, the unemployment rate eased to 7.2% in the final quarter of 2020, from 7.3% in Q3, and the committee added that the number of employed persons improved compared to the second quarter of the year. source: Central Bank of Egypt
Interest Rate in Egypt averaged 11.82 percent from 1991 until 2021, 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 April of 2021.
Interest Rate in Egypt is expected to be 8.25 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 7.75 in 12 months time. In the long-term, the Egypt Interest Rate is projected to trend around 7.25 percent in 2022 and 6.75 percent in 2023, according to our econometric models.