19 Dec 2021

 

The CBE (Central Bank of Egypt) has decided to keep interest rates unchanged for the 9^th time in a row. Interest rates remain at 8.25% for overnight deposits, 9.25% for overnight lending, and 8.75% as the main operations rate and the discount rate. The CBE sees these rates as appropriate at this time to achieve their target inflation rate of 7% ±2% in 4Q22 and medium-term price stability. The CBE cited declining headline inflation, rising core inflation, high GDP growth, stable unemployment levels, cautiously recovering global economic activity that is still hampered by supply chain disruptions and the emergence of the new Covid variant, and relatively stable energy and commodities prices.

(Source: CBE (English) (Arabic), State Information Service (English), Reuters (English), Zawya (English), al-Ahram (English) (Arabic), Egypt Today (English), Daily News Egypt (English), al-Maal, Mubasher, Hapi Journal, al-Youm al-Saabe, al-Masry al-Youm, Akhbar al-Youm, Sada el-Balad, Masrawy, al-Sharq Business, al-Arabiya, RT Arabic)