Central Bank of Egypt Keeps Interest Rates Unchanged

The Central Bank of Egypt has announced its decision to maintain its key interest rates unchanged during its latest meeting, marking the sixth consecutive time this policy has been upheld. This move comes amid local and global economic challenges as the government seeks to stabilize markets.

Monetary Policy Decisions

Central Bank of Egypt decided to keep the deposit rate at 19.25% and the lending rate at 20.25%. The Monetary Policy Committee emphasized that the decision aims to balance supporting the local economy and controlling inflation.

Current Economic Context

Egypt faces economic challenges, including rising inflation and a depreciating local currency. This step aligns with a long-term strategy to stabilize the economy and avoid measures that could exacerbate economic pressures.

Reactions and Expert Opinions

The decision has sparked mixed reactions. Some experts believe stable interest rates provide businesses and investors with greater clarity, while others call for additional measures to bolster the domestic economy.