CBE Holds Key Policy Rates

Giving More to Your Wealth
08 Aug 2021

The CBE (Central Bank of Egypt) has kept key policy rates unchanged in its latest MPC (Monetary Policy Committee) meeting. The rates stand at 8.25% and 9.25% for overnight deposits and overnight lending, respectively. The main operation rate and the discount rate are both 8.75%. The CBE cited the global recovery, current financial conditions, and inflation outlooks as their reasons for holding rates. This is the 6th consecutive time that the CBE has held rates since December 2020. The CBE stated that their recent decision is consistent with achieving their inflation target of 7% +/−2%. It is worthy to note that Egypt currently has some of the highest real interest rates in the world, offering exceptional yields for government treasury fixed-income investments.

(Source: CBE (English) (Arabic), Reuters (English), Amwal al-Ghad (English), Zawya (English), al-Ahram (English) (Arabic), Arab News (English), al-Maal, Hapi Journal, al-Masry al-Youm, al-Shurouk, al-Dustour, CNBC Arabia, al-Arabiya)


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