Egypt’s Central Bank Cuts Interest Rates as Inflation Cools and Growth Strengthens

Egypt’s Central Bank Cuts Interest Rates as Inflation Cools and Growth Strengthens

Egypt’s central bank lowered its benchmark interest rates by two percentage points on Thursday, its largest reduction in over a year, as inflation eased and economic growth outpaced expectations. The Monetary Policy Committee of the Central Bank of Egypt reduced the overnight deposit rate to 22 percent from 24 percent. The overnight lending rate was cut to 23 percent, while the main operation and discount rates were lowered to 22.5 percent. In a…

Market awaits repercussions of 2% rate cut on savings, loans, and debt instruments - Dailynewsegypt

The banking sector and wider financial markets are bracing for the impact of the Central Bank of Egypt’s (CBE) surprise decision last Thursday to cut key policy rates by 200 basis points, with attention now focused on how the move will affect savings returns, lending costs, and government debt instruments. The Monetary Policy Committee (MPC)