The Central Bank of Egypt lifted its key overnight deposit rate by 200 bps to 13.25% during an exceptional meeting on October 27th, 2022, in order to anchor inflation expectations and, thus, ensure price stability over the medium term. Policymakers said that elevated global and domestic prices are expected to keep headline inflation above the preannounced target of 7% (±2 percentage points) on average in 2022 Q4. The annual urban inflation rate in Egypt accelerated to a near four-year high of 15% in September from 14.6% in August, above market expectations of 14.7%. Meanwhile, the bank said it was moving to a more flexible currency regime as the country gets closer to an agreement with the International Monetary Fund for a new loan. The central bank set the overnight lending rate at 14.25% and the overnight deposit rate at 13.25%. The discount rate was also raised by 200 basis points to 13.75%. source: Central Bank of Egypt

Interest Rate in Egypt averaged 11.69 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 December of 2022.

Interest Rate in Egypt is expected to be 13.25 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 14.75 percent in 2023 and 13.50 percent in 2024, according to our econometric models.

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Egypt Interest Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-08-18 03:40 PM 11.25% 11.25% 11.75% 11.75%
2022-09-22 04:40 PM 11.25% 11.25% 12.25% 12.25%
2022-10-27 06:30 AM 13.25% 11.25%
2022-12-22 05:40 PM 13.25% 13.25%


Related Last Previous Unit Reference
Interest Rate 13.25 11.25 percent Oct 2022
Interbank Rate 13.43 13.43 percent Dec 2022
Money Supply M0 1334628.00 1195377.00 EGP Million Oct 2022
Money Supply M1 1685188.00 1613238.00 EGP Million Sep 2022
Money Supply M2 6949623.00 6808379.00 EGP Million Sep 2022
Foreign Exchange Reserves 33411.00 33198.00 USD Million Oct 2022
Banks Balance Sheet 10037071.00 7948115.00 EGP Million Jun 2022
Loans to Private Sector 1545608.00 1517074.00 EGP Million Sep 2022
Lending Rate 14.25 12.25 percent Oct 2022
Central Bank Balance Sheet 10511331.00 10238469.00 EGP Million Aug 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
13.25 11.25 21.40 8.25 1991 - 2022 percent Daily

News Stream
Egypt Raises Key Rate to 13.25%
The Central Bank of Egypt lifted its key overnight deposit rate by 200 bps to 13.25% during an exceptional meeting on October 27th, 2022, in order to anchor inflation expectations and, thus, ensure price stability over the medium term. Policymakers said that elevated global and domestic prices are expected to keep headline inflation above the preannounced target of 7% (±2 percentage points) on average in 2022 Q4. The annual urban inflation rate in Egypt accelerated to a near four-year high of 15% in September from 14.6% in August, above market expectations of 14.7%. Meanwhile, the bank said it was moving to a more flexible currency regime as the country gets closer to an agreement with the International Monetary Fund for a new loan. The central bank set the overnight lending rate at 14.25% and the overnight deposit rate at 13.25%. The discount rate was also raised by 200 basis points to 13.75%.
2022-10-27
Egypt Central Bank Keeps Interest Rates Steady
The Central Bank of Egypt kept its key overnight deposit rate steady at 11.25% in its September 22nd meeting, surprising analysts who expected policymakers to hike it by an entire percentage point. The move came despite annual headline inflation surging to 14.6 percent in August 2022, the highest since November 2018. The committee also noted that the economy remains resilient, driven mainly by the private sector. The central bank held the overnight deposit rate, overnight lending rate, and the rate of the main operation unchanged at 11.25 percent, 12.25 percent, and 11.75 percent. The CBE also decided to hike the required reserve ratio to 18 percent from 14 percent.
2022-09-22
Egypt Holds Key Interest Rate at 11.25%
The Central Bank of Egypt kept its key overnight deposit rate steady at 11.25% in its June 23rd meeting against market expectations of 11.75%, following two consecutive rate-hikes of 100 bps and 200 bps in March and May respectively. The monetary authority noted that it continues to assess the impact of previous two rate-hikes on inflation expectations and macroeconomic developments in the medium term. Further, it stressed that although achieving low and stable inflation rates in the medium term is a prerequisite for supporting the purchasing power of the Egyptian citizen and achieving high and sustainable growth rates; the current interest rates depend mainly on the expected inflation rates and not the prevailing rates, which runs at a 3-year high of 13.5%. Looking forward, policymakers expect inflation to deviate slightly from the bank's official target of 7+/-2% on average during Q4 of 2022, and then gradually decline again.
2022-06-23