Egypt sharply cuts rates as inflation slides

central-bank-of-egypt

The Central Bank of Egypt implemented a sharp reduction of interest rates on August 22, cutting rates 150 basis points due to lower inflation.

As a result, the overnight deposit rate now stands at 14.25%, the overnight lending rate at 15.25%, and the rate on the main operations at 14.75%.

The monetary policy committee stressed “annual headline and core inflation continued to decline to record 8.7% and 5.9% in July 2019, respectively, the lowest rates in almost four years”. The policy statement

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: