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.