Egypt’s CBE to review key interest rates on Wednesday

The Central Bank of Egypt (CBE) will be reviewing the key interest rates as The Monetary Policy Committee (MPC) is holding its third meeting  2021 on Wednesday.

The MPC meeting was scheduled on 29 April, yet the CBE decided to reschedule it to be a day earlier in response to the prime minister’s decree that made Thursday a paid day off to commemorate the 39th anniversary of Sinai Liberation Day.

In the last two meetings, held in February and March, the MPC decided to maintain the CBE’s current key interest rates, driven by the inflation figures that were in the range limit set by the CBE at 7 percent (±2 percent) on average in the fourth quarter of 2022, and the recent global economic developments.

The CBE’s overnight deposit rate, overnight lending rate, and the rate of the main operation remained unchanged at 8.25 percent, 9.25 percent, and 8.75 percent, respectively.