Egypt Interest Rate 1991-2014 | Data | Chart | Calendar | Forecast | News

The benchmark interest rate in Egypt was last recorded at 9.25 percent. Interest Rate in Egypt averaged 11.54 Percent from 1991 until 2014, 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. Interest Rate in Egypt is reported by the Central Bank of Egypt.

   
 
 

Egypt Interest Rate


Actual Previous Highest Lowest Dates Unit Frequency
9.25 9.25 21.40 8.25 1991 - 2014 Percent Monthly
In Egypt, decisions on interest rates are made 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. This page provides - Egypt Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - Egypt Interest Rate - was last refreshed on Monday, September 22, 2014.


Egypt Leaves Monetary Policy Unchanged


At its September 1st, 2014 meeting, Egypt's Central Bank decided to hold the overnight deposit rate steady at 9.25 percent, as policymakers consider the current policy stance to be appropriate to anchor inflation expectations. Last meeting, the central bank rose key rates by 100 bps.

The overnight lending rate and the rate of the CBE's main operation were left unchanged at 10.25 percent and 9.75 percent, respectively. The discount rate was also kept on hold at 9.75 percent.

Extracts from the press release by the Central Bank of Egypt:

While the direct first round effect of the price adjustments have led to a level shift up in the headline CPI in July 2014, higher than anticipated indirect and second round effects pose an upside risk to the inflation outlook. On the other hand, as the possibility of a sharp rebound in international food prices is unlikely in light of recent global developments, upside risks to the inflation outlook from imported inflation continue to be contained.

Looking ahead, while investments in domestic mega projects such as the Suez Canal are expected to contribute to economic growth, the downside risks that surround the global recovery on the back of challenges facing the Euro Area and the softening growth in emerging markets could pose downside risks to domestic GDP going forward.

At this juncture, the MPC judges that the key CBE rates are currently appropriate to anchor inflation expectations and limit a generalized price increase given the
lagged transmission of the previous rate hike across the economy and the balance of risks surrounding the inflation and GDP outlooks.

The MPC will continue to closely monitor all economic developments and will not hesitate to adjust the key CBE rates to ensure price stability over the medium-term.

Central Bank of Egypt | Joana Taborda | joana.taborda@tradingeconomics.com
9/1/2014 4:16:21 PM


Recent Releases

Central Bank of Egypt Raises Rates
At its meeting held on July 17th, the Monetary Policy Committee decided to raise the benchmark interest rate by 100 bps to 9.25 percent, aiming to curb inflationary pressures, following a cut in subsidies on fuel and electricity. Published on 2014-07-17

Egypt Leaves Benchmark Rate on Hold at 8.25%
At its May 29th, 2014 meeting, Egypt's Central Bank decided to hold the overnight deposit rate steady at 8.25 percent, as policymakers consider downside risks to GDP will limit inflationary pressures. Published on 2014-05-29


Calendar GMT Country Event Reference Actual Previous Consensus Forecast
2014-04-28 04:30 PM Egypt
Interest Rate Decision
8.25% 8.25% 8.25% 8.25%
2014-05-29 03:00 PM Egypt
Interest Rate Decision
8.25% 8.25% 8.25%
2014-07-17 03:00 PM Egypt
Interest Rate Decision
9.25% 8.25% 8.25% 8.25%
2014-09-01 03:50 PM Egypt
Interest Rate Decision
9.25% 9.25% 9.25% 9.25%
2014-10-16 04:30 PM Egypt
Interest Rate Decision
9.25% 9.5%


Money Last Previous Highest Lowest Unit
Interest Rate 9.25 9.25 21.40 8.25 Percent [+]
Money Supply M0 370585.00 364473.00 364473.00 68043.00 EGP Million [+]
Money Supply M1 410548.00 401252.00 410548.00 33680.00 EGP Million [+]
Money Supply M2 1516591.00 1484420.00 1516591.00 161125.00 EGP Million [+]
Foreign Exchange Reserves 16759.00 16710.00 36038.00 13448.00 USD Million [+]
Loans to Private Sector 145300.00 142580.00 145300.00 37957.00 EGP Million [+]
Banks Balance Sheet 1563849.10 1366159.61 1563849.10 156312.00 EGP Million [+]
Central Bank Balance Sheet 106.50 103.81 1837662.00 1198240.00 EGP Million [+]


Interest Rate Reference Previous Highest Lowest Unit
Australia 2.50 Sep/14 2.50 17.50 2.50 Percent [+]
Brazil 11.00 Sep/14 11.00 45.00 7.25 Percent [+]
Canada 1.00 Sep/14 1.00 16.00 0.25 Percent [+]
China 6.00 Aug/14 6.00 10.98 5.31 Percent [+]
Euro Area 0.05 Sep/14 0.15 4.75 0.05 Percent [+]
France 0.05 Sep/14 0.15 4.75 0.05 Percent [+]
Germany 0.05 Sep/14 0.15 4.75 0.05 Percent [+]
India 8.00 Aug/14 8.00 14.50 4.25 Percent [+]
Indonesia 7.50 Sep/14 7.50 12.75 5.75 Percent [+]
Italy 0.05 Sep/14 0.15 4.75 0.05 Percent [+]
Japan 0.00 Sep/14 0.00 9.00 0.00 Percent [+]
Mexico 3.00 Sep/14 3.00 9.25 3.00 Percent [+]
Netherlands 0.05 Sep/14 0.15 4.75 0.05 Percent [+]
Russia 8.00 Sep/14 8.00 10.50 5.00 Percent [+]
South Korea 2.25 Sep/14 2.25 5.25 2.00 Percent [+]
Spain 0.05 Sep/14 0.15 4.75 0.05 Percent [+]
Switzerland 0.00 Sep/14 0.00 3.50 0.00 Percent [+]
Turkey 8.25 Aug/14 8.25 500.00 4.50 Percent [+]
United Kingdom 0.50 Sep/14 0.50 17.00 0.50 Percent [+]
United States 0.25 Sep/14 0.25 20.00 0.25 Percent [+]





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