06 Feb 2022

The CBE (Central Bank of Egypt) has decided to keep interest rates unchanged for the 10^th time in a row. The rates remain at 8.25% for overnight deposits, 9.25% for overnight lending, and 8.75% for both the main operations rate and the discount rate. The Bank mentioned rising inflation, robust economic activity, and stable employment levels as domestic factors that contributed to their decision. Globally, they cited a slow economic recovery showing some signs of slowdown due to supply chain issues, as well as an expected tightening of monetary policies in the medium-term and rising energy and commodity prices.

(Source: Reuters (English), Egypt Today (English), al-Maal, Amwal al-Ghad, al-Ahram, al-Youm al-Saabe, al-Masry al-Youm, Masrawy, CNBC Arabia, RT)