Egypt Overnight Lending Rate
The loan rate in Egypt refers to the central bank's overnight lending facility, which is one of the primary policy instruments. In conjunction with the overnight deposit rate, the overnight lending rate establishes the outer borders of a corridor within which the overnight interbank rate will change.
A higher than expected figure should be seen as positive (bullish) for the EGP while a lower than expected figure should be seen as negative (bearish) for the EGP.
News (EGP)
Egypt Central Bank Lifts Interest Rates By 600 Bps In Surprise Move
Egypt's central bank decided to raise its interest rate by 600 basis points and to allow the currency exchange rate to be determined by market forces at an emergency meeting on Wednesday, citing high inflation. The Monetary Policy Committee of the Central Bank of Egypt lifted the overnight deposit rate to 27.25 percent and the overnight lending rate to 28.25 percent.
RTTNews | 51 days ago
