Egypt Interest Rate

Last Release

Nov 21, 2024

Actual

27.25

Units In

27.25

Frequency

Daily

Next Release

Dec 26, 2024

Time to Release

1 Months 3 Days 4 Hours

Highest	Lowest	Average	Date Range	Source
27.25 Mar 2024	8.25 Sep 2009	12.31 %	1991-2024	Central Bank of Egypt

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.

Latest Updates

The Central Bank of Egypt kept its interest rate unchanged at a record high of 27.25% in November 2024, for the eighth consecutive month, reflecting global and domestic economic conditions. Annual headline inflation stabilized at 26.5% in October, while core inflation eased to 24.4%, and food inflation dropped to a two-year low of 27.3%. These trends, along with improved inflation expectations and normalized monthly inflation dynamics, point to a continued disinflationary path, though subject to administered price adjustments. Real GDP growth accelerated in Q3 2024 compared to 2.4% in Q2, with further gains anticipated in Q4, although output remains below potential. Inflation is expected to hover near current levels through 2024, with risks still skewed to the upside, but is forecast to ease significantly from Q1 2025 as monetary tightening and favorable base effects take hold.