CAIRO – The Central Bank of Egypt’s Monetary Policy Committee (MPC) decided to keep the CBE’s overnight deposit rate, overnight lending rate, and the rate of the main operation unchanged at 27.25 percent, 28.25 percent, and 27.75 percent, respectively.
MPC also kept the discount rate unchanged at 27.75 percent.
Additionally, the bank has extended its inflation targets to the fourth quarter of 2026 and 2028, aiming for average inflation rates of 7% (±2 percentage points) and 5% (±2 percentage points).
Globally, monetary policy tightening cycles in advanced and emerging market economies have contributed to a decline in inflation worldwide, with select central banks gradually cutting their policy rates, albeit maintaining a restrictive stance to sustain disinflation towards targeted levels.
Locally, inflation has decreased to 25.5% in November 2024, largely due to falling food prices.
The Central Bank will continue to monitor economic conditions closely and adjust its policies as necessary to achieve its inflation targets while aiming to avoid significant economic slowdowns.
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