Cairo, Egypt – In a surprising move, the Central Bank of Egypt (CBE) announced on Thursday that it has raised interest rates by 100 basis points to contain the rising inflationary pressures. The lending rate was increased to 20.25 percent, and the deposit rate to 19.25 percent, while the credit...
Egypt raises key interest rates by 200 bps amid soaring inflation
Cairo, Egypt - The Central Bank of Egypt (CBE) raised key interest rates by 200 bps for the first time in 2023 on Thursday as it struggles to control soaring inflation. “In its meeting today, the Monetary Policy Committee (MPC) decided to raise the Central Bank of Egypt’s (CBE) overnight...Egypt’s central bank cancels maximum cash deposit limit in banks
During the COVID-19 crisis, the bank set a maximum limit of cash deposits as part of measures to face its global economic impact.Egypt’s net foreign reserves at $35.5bn by May end
The Central Bank of Egypt said that the net cash reserve balance covers five months of commodity imports
