The Central Bank of Egypt raised its key overnight deposit rate by 300bps to 16.25% in its December 2022 meeting, well above market expectations of a 100bps rate increase and adding to the 800bps in interest rate increases since the start of the bank’s tightening cycle in March. The central bank noted that major monetary authorities expect inflation to ease next year and that commodity prices have dropped more than their previous forecasts believed. Still, policymakers underscored that many upside risks on global commodity price levels persist and that growth in the Egyptian economy has already pointed to a solid recovery, paving the need for tighter monetary policy. In accordance, the CBE set its inflation target to reach the 5%-9% range by the fourth quarter of 2022. According to the latest data, inflation in Egypt stands at a five-year high of 18.7%. In the meantime, the central bank also raised its overnight lending rate by 300bps to 17.25%. source: Central Bank of Egypt

Interest Rate in Egypt averaged 11.71 percent from 1991 until 2022, reaching an all time high of 21.40 percent in October of 1991 and a record low of 8.25 percent in September of 2009. This page provides - Egypt Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Egypt Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on January of 2023.

Interest Rate in Egypt is expected to be 16.25 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations.

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Egypt Interest Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-09-22 04:40 PM 11.25% 11.25% 12.25% 12.25%
2022-10-27 06:30 AM 13.25% 11.25%
2022-12-22 05:15 PM 16.25% 13.25% 14.5% 15.25%
2023-02-02 05:30 PM 16.25% 16.25%
2023-03-30 05:30 PM
2023-05-18 05:30 PM


Related Last Previous Unit Reference
Interest Rate 16.25 13.25 percent Dec 2022
Interbank Rate 16.30 16.30 percent Jan 2023
Money Supply M0 1496290.00 1546380.00 EGP Million Dec 2022
Money Supply M1 1692907.00 1662795.00 EGP Million Nov 2022
Money Supply M2 7318945.00 7182663.00 EGP Million Nov 2022
Foreign Exchange Reserves 34003.00 33532.00 USD Million Dec 2022
Banks Balance Sheet 10037071.00 7948115.00 EGP Million Jun 2022
Loans to Private Sector 1645504.00 1616534.00 EGP Million Nov 2022
Lending Rate 17.25 14.25 percent Dec 2022
Central Bank Balance Sheet 10823756.00 10511331.00 EGP Million Sep 2022

Egypt Interest Rate
In Egypt, interest rate decisions are taken by the Central Bank of Egypt (CBE). The Central Bank of Egypt official interest rate is the overnight deposit rate. The CBE is committed to achieving, over the medium term, low rates of inflation which it believes are essential for maintaining confidence and for sustaining high rates of investment and economic growth.
Actual Previous Highest Lowest Dates Unit Frequency
16.25 13.25 21.40 8.25 1991 - 2022 percent Daily

News Stream
Egypt Hikes Interest Rate by More than Expected
The Central Bank of Egypt raised its key overnight deposit rate by 300bps to 16.25% in its December 2022 meeting, well above market expectations of a 100bps rate increase and adding to the 800bps in interest rate increases since the start of the bank’s tightening cycle in March. The central bank noted that major monetary authorities expect inflation to ease next year and that commodity prices have dropped more than their previous forecasts believed. Still, policymakers underscored that many upside risks on global commodity price levels persist and that growth in the Egyptian economy has already pointed to a solid recovery, paving the need for tighter monetary policy. In accordance, the CBE set its inflation target to reach the 5%-9% range by the fourth quarter of 2022. According to the latest data, inflation in Egypt stands at a five-year high of 18.7%. In the meantime, the central bank also raised its overnight lending rate by 300bps to 17.25%.
2022-12-22
Egypt Raises Key Rate to 13.25%
The Central Bank of Egypt lifted its key overnight deposit rate by 200 bps to 13.25% during an exceptional meeting on October 27th, 2022, in order to anchor inflation expectations and, thus, ensure price stability over the medium term. Policymakers said that elevated global and domestic prices are expected to keep headline inflation above the preannounced target of 7% (±2 percentage points) on average in 2022 Q4. The annual urban inflation rate in Egypt accelerated to a near four-year high of 15% in September from 14.6% in August, above market expectations of 14.7%. Meanwhile, the bank said it was moving to a more flexible currency regime as the country gets closer to an agreement with the International Monetary Fund for a new loan. The central bank set the overnight lending rate at 14.25% and the overnight deposit rate at 13.25%. The discount rate was also raised by 200 basis points to 13.75%.
2022-10-27
Egypt Central Bank Keeps Interest Rates Steady
The Central Bank of Egypt kept its key overnight deposit rate steady at 11.25% in its September 22nd meeting, surprising analysts who expected policymakers to hike it by an entire percentage point. The move came despite annual headline inflation surging to 14.6 percent in August 2022, the highest since November 2018. The committee also noted that the economy remains resilient, driven mainly by the private sector. The central bank held the overnight deposit rate, overnight lending rate, and the rate of the main operation unchanged at 11.25 percent, 12.25 percent, and 11.75 percent. The CBE also decided to hike the required reserve ratio to 18 percent from 14 percent.
2022-09-22