01 Nov 2021

The CBE (Central Bank of Egypt) has decided to keep interest rates unchanged for the 8^th consecutive time. The overnight deposit rate, overnight lending rate, rate of main operation, and discount rate were kept at 8.25%, 9.25%, 8.75%, and 8.75%, respectively. The CBE sees these rates as suitable for achieving its target inflation rate of 7% +/–2% in 4Q22 and medium-term price stability. The factors that the CBE took into consideration when making this decision included rising domestic inflation, high GDP growth, and a fluctuating and uneven global economic recovery from the pandemic.

(Source: CBE (English) (Arabic), Reuters (English), Amwal al-Ghad (English), Business Today Egypt (English), Zawya (English), Egypt Today (English), See News (English), al-Maal, Amwal al-Ghad, Economy Plus Me, Hapi Journal, al-Aalam al-Youm, al-Ahram, al-Youm al-Saabe, al-Masry al-Youm, Akhbar al-Youm, Sada el-Balad)