The central bank of Egypt unexpectedly raised its key overnight deposit rate by 200bps to 11.25% in its May 19th meeting. It is the second increase in borrowing costs since March as the country aims to tackle soaring inflation and restore the allure of its local debt with foreign investors amid a global wave of monetary tightening. Consumer-price growth in the North African nation surged to 13.1% in April, the highest level in almost three years as food costs spiked due to the war in Ukraine. A major food importer, Egypt is racing to deal with record grain prices fueled by the conflict. The Monetary Policy Committee reiterated that the path of future policy rates remains a function of inflation expectations, rather than of prevailing inflation rates. The overnight lending rate was also increased to 12.25% from 10.25%. source: Central Bank of Egypt

Interest Rate in Egypt averaged 11.71 percent from 1991 until 2022, 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 May of 2022.

Interest Rate in Egypt is expected to be 13.00 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 12.00 percent in 2023 and 10.00 percent in 2024, according to our econometric models.

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Egypt Interest Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-02-03 02:40 PM 8.25% 8.25% 8.25% 8.25%
2022-03-21 06:55 AM 9.25% 8.25% 8.75%
2022-05-19 03:30 PM 11.25% 9.25% 11% 11%
2022-06-23 05:40 PM 11.25%
2022-08-18 05:40 PM
2022-09-22 05:40 PM


Related Last Previous Unit Reference
Interest Rate 11.25 9.25 percent May 2022
Interbank Rate 11.49 11.49 percent May 2022
Money Supply M0 1154083.00 1046463.00 EGP Million Apr 2022
Money Supply M1 1469458.00 1399814.00 EGP Million Mar 2022
Money Supply M2 6280198.00 5948841.00 EGP Million Mar 2022
Foreign Exchange Reserves 37100.00 37082.00 USD Million Apr 2022
Banks Balance Sheet 7948115.00 6408261.00 EGP Million Jun 2021
Loans to Private Sector 1401447.00 1325785.00 EGP Million Mar 2022
Lending Rate 12.25 10.25 percent May 2022
Central Bank Balance Sheet 8828051.00 8627173.00 EGP Million Jan 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
11.25 9.25 21.40 8.25 1991 - 2022 percent Daily

News Stream
Egypt Raises Interest Rate to 11.25%
The central bank of Egypt unexpectedly raised its key overnight deposit rate by 200bps to 11.25% in its May 19th meeting. It is the second increase in borrowing costs since March as the country aims to tackle soaring inflation and restore the allure of its local debt with foreign investors amid a global wave of monetary tightening. Consumer-price growth in the North African nation surged to 13.1% in April, the highest level in almost three years as food costs spiked due to the war in Ukraine. A major food importer, Egypt is racing to deal with record grain prices fueled by the conflict. The Monetary Policy Committee reiterated that the path of future policy rates remains a function of inflation expectations, rather than of prevailing inflation rates. The overnight lending rate was also increased to 12.25% from 10.25%.
2022-05-19
Egypt Raises Interest Rates in Exceptional Meeting
The central bank of Egypt unexpectedly raised its key overnight deposit rate by 100bps to 9.25% in an exceptional monetary policy committee meeting on March 21st 2022. It is the first increase in borrowing costs since 2017 amid strong inflationary pressures. The monetary policy committee had been scheduled to meet on March 24th. Policymakers noted that rising international commodity prices resulting from further supply chain disruptions in addition to increased risk-off sentiment have added to domestic inflationary pressures as well as external imbalances. The overnight lending rate was also increased to 10.25% from 9.25%.
2022-03-21
Egypt Leaves Key Interest Rate Steady at 8.25%
The Central Bank of Egypt left its key overnight deposit rate steady at 8.25% on February 3rd, 2022, as expected. The policymakers noted that the rate remains consistent with achieving the inflation target of 7 percent (±2 percentage points) on average in 2022 Q4 and price stability over the medium term. Policymakers noted that annual inflation increased to 5.9% in December from 5.6% in November, resuming its upward trend since May 2021, but remained within the central bank's target range of 5-9%. The committee said that leading indicators point towards a continued expansion across most economic sectors and that domestic economic activity over the near-term is expected to be mainly driven by domestic demand and, in specific, gross domestic investments.
2022-02-03