The Central Bank of Egypt left its key overnight deposit rate steady at 8.25% on June 17th, 2021, as expected. The overnight lending rate was also left at 9.25%, and the discount rate at 8.75%, for a fifth consecutive time, after cuts in September and November. The MPC noted that headline inflation had increased to 4.8% in May from 4.1% in April, after having eased from 4.5% in March, amid favorable and then unfavorable base effects during April and May 2021, reflecting the early impact of the Covid-19 outbreak and its related containment measures on inflation readings during 2020. Inflation is expected to continue to be affected by unfavorable base effects in the near term. Policymakers also noted that the economy grew a preliminary 2.9% during 2021 Q1, up from 2% percent during the prior quarter; and it is expected to remain on an accelerating trajectory, which is partially base effect. Furthermore, leading indicators point towards a sustained momentum of recovery across the board. source: Central Bank of Egypt

Interest Rate in Egypt averaged 11.79 percent from 1991 until 2021, 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 August of 2021.

Interest Rate in Egypt is expected to be 8.25 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Egypt to stand at 7.50 in 12 months time. In the long-term, the Egypt Interest Rate is projected to trend around 7.25 percent in 2022 and 6.75 percent in 2023, according to our econometric models.

Ok
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

Please Paste this Code in your Website
width
height
Egypt Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
8.25 8.25 21.40 8.25 1991 - 2021 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2021-02-04 03:50 PM 8.25% 8.25% 8.25% 8.25%
2021-03-18 05:00 PM 8.25% 8.25% 8.25% 8.25%
2021-04-28 01:50 PM 8.25% 8.25% 8.25% 8.25%
2021-06-17 05:00 PM 8.25% 8.25% 8.25% 8.25%
2021-08-05 05:00 PM 8.25% 8.25% 8.25%
2021-09-16 05:00 PM
2021-10-28 05:00 PM
2021-12-16 05:00 PM


News Stream
Egypt Leaves Key Rates Unchanged
The Central Bank of Egypt left its key overnight deposit rate steady at 8.25% on June 17th, 2021, as expected. The overnight lending rate was also left at 9.25%, and the discount rate at 8.75%, for a fifth consecutive time, after cuts in September and November. The MPC noted that headline inflation had increased to 4.8% in May from 4.1% in April, after having eased from 4.5% in March, amid favorable and then unfavorable base effects during April and May 2021, reflecting the early impact of the Covid-19 outbreak and its related containment measures on inflation readings during 2020. Inflation is expected to continue to be affected by unfavorable base effects in the near term. Policymakers also noted that the economy grew a preliminary 2.9% during 2021 Q1, up from 2% percent during the prior quarter; and it is expected to remain on an accelerating trajectory, which is partially base effect. Furthermore, leading indicators point towards a sustained momentum of recovery across the board.
2021-06-17
Egypt Leaves Key Rates Unchanged
The Central Bank of Egypt left its key overnight deposit rate unchanged at 8.25% on April 28th 2021, as expected. The overnight lending rate was also left at 9.25%, and the discount rate at 8.75%. The monetary policy committee noted annual headline inflation rate stabilized at 4.5% in March and February 2021, with main upward pressure from food items, while non-food inflation declined. The central bank added some leading indicators pointed towards a recovery in economic activity. According to this macroeconomic context, policymakers said the decision was consistent with achieving the inflation target of 7% (±2 percentage points) on average in 2022 Q4 and price stability over the medium term.
2021-04-28
Egypt Keeps Rates Unchanged
The Central Bank of Egypt left its key overnight deposit rate unchanged at 8.25% on March 18th 2021, as expected. The overnight lending rate was also left at 9.25%, and the discount rate at 8.75%. Policymakers said the decision was consistent with achieving the inflation target of 7% (±2 percentage points) on average in 2022 Q4 and price stability over the medium term. The annual headline inflation picked up to 4.5% in February 2021 from 4.3% in January, mainly driven by higher prices of non-food commodities, such as housing & utilities (4.7%), health (5.3%), and recreation & culture (4.5 percent). The Central Bank also disclosed that the economy expanded 2.0% in Q4 of 2020, following a 0.7% increase in the prior period, according to preliminary figures. Meanwhile, the unemployment rate eased to 7.2% in the final quarter of 2020, from 7.3% in Q3, and the committee added that the number of employed persons improved compared to the second quarter of the year.
2021-03-18
Egypt Keep Interest Rates Unchanged
The central bank of Egypt left its key overnight deposit rate unchanged at 8.25% on February 4th 2021, as expected. The overnight lending rate was also left at 9.25%, and the discount rate at 8.75%. Policymakers said the decision was consistent with achieving the inflation target of 7% (±2 percentage points) on average in 2022 Q4 and price stability over the medium term. The annual headline inflation eased to 5.4% in December 2020 from 5.7% in November, mainly driven by lower prices of fresh vegetables, reflecting their seasonal pattern. The Committee also disclosed that the economy likely expanded 0.7% in Q3 of 2020, recovering from a 1.7% contraction in the previous period. Meantime, short-term indicators continued to display signs of recovery in Q4 2020. The central bank stressed that the path to global economic recovery remains a function of the efficacy, availability and the rollout speed of vaccines, which could ease the level of uncertainty posed by the pandemic.
2021-02-04

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.