Expected rise in inflation means CBE likely to keep interest rates unchanged for 3rd time in 2019
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Strong hopes rates to remain stable for 6th consecutive time; 16.75% for deposit;17.75% for lending; 17.25% for credit, discount
Amer hinted at imminent cuts, but linked them to curbing inflation first
The Monetary Policy Committee (MPC) announced on Sunday raising the discount rate by 2%, reaching 17.25%. In addition, the overnight deposit rate, overnight lending rate, and the rate of the Central Bank of Egypt’s (CBE) main operation increased by 2%, reaching 16.75%, 17.75%, and 17.25%, respectively. The step of raising the interest rates was recommended …
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In its meeting held on 30 March, the Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) decided to keep the overnight deposit rate, the overnight lending rate, and the CBE’s main operation rate unchanged at 14.75%, 15.75%, and 15.25% respectively. The discount rate was also kept unchanged at 15.25%.
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The MPC decided during its last meeting on 24 December 2015 to raise basic interest rates by half a percentage point, resulting in an overnight deposit rate of 9.25%, an overnight lending rate of 10.25%, and a main operation and discount rate of 9.75%.
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The market expects MPC to fix both loan and deposit rates
The CBE also kept the discount rate unchanged at 9.25%.
Overnight deposit rate, overnight lending rate, main operations’ rate stand at 8.75%, 9.75% and 9.25%, respectively, bank said
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