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Egypt’s Central Bank is hiking interest rates as the cash-strapped North African country continues to battle surging inflation and a depreciating currency. Egyptians, particularly working class ...
On March 6, 2024, in an extraordinary meeting of the Monetary Policy Committee, the Central Bank of Egypt decided to raise interest rates by 600 basis points, bringing the overnight deposit, lending and main operation rates to 27.25%, 28.25%, and 27.75% respectively.
Surging domestic inflationary pressures from both economic growth and elevated international food prices led the Central Bank of Egypt (CBE) to increase the overnight lending and deposit rates in sequential moves since 2008: it was raised by 0.25% on 10 February 2008, by 0.5% on 25 March 2008, by 0.5% on 8 May 2008, by 0.5% on 26 June 2008, by ...
The Egyptian central bank slashed its main interest rates by 300 basis points at an unscheduled meeting on Monday, saying it was a "pre-emptive" move to support the economy. Egypt has registered ...
Central bank interest rate (%) Change Effective date of last change Average inflation rate 2017–2021 (%) by WB and IMF [1] [2] as in the List Central bank interest rate minus average inflation rate (2017–2021) Afghanistan: 6.00 3.00: 24 July 2021 [3] 3.38 2.62 Albania: 2.75 0.25: 6 November 2024 [4] 1.78 0.97 Algeria: 3.00 0.25: 29 April ...
The central bank said it had raised the overnight lending rate to 28.25% and its overnight deposit rate to 27.25%, as part of a decision to accelerate monetary tightening and bring down inflation ...
View history; General ... Bank rate: 12.25 [3] Interest on reserves: 11.25% [3] ... Website: www.cbe.org.eg: The Central Bank of Egypt (CBE; Arabic: البنك ...
The annual inflation rate reached 36.8% last month, up from 33.7% recorded in May, according to data released by the state-run Central Agency for Mobilization and Statistics.