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. source: Central Bank of Egypt
Interest Rate in Egypt averaged 11.85 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 March of 2021.
Interest Rate in Egypt is expected to be 7.75 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 7.25 in 12 months time. In the long-term, the Egypt Interest Rate is projected to trend around 6.75 percent in 2022, according to our econometric models.