Egypt Interest Rate Decision
The Central Bank of Egypt (CBE) is responsible for making interest rate decisions in Egypt. The official interest rate of the Central Bank of Egypt is the overnight deposit rate. CBE is critical to fulfilling, over the medium term, low rates of inflation, which it feels are necessary for retaining confidence as well as for maintaining high rates of investment and economic expansion.
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 | 60 days ago
