Monetary Policy Committee Decision
Date: Thursday, September 21, 2023
Introduction
The Monetary Policy Committee of the Central Bank of Egypt, at its meeting today, Thursday, September 21, 2023, decided to maintain the interest rate at the current level.
Interest Rate Information
The overnight deposit and lending rates and central bank core operations rate were fixed at 19.25%, 20.25% and 19.75% respectively, while the lending and discount rates were fixed at 19.75%.
Consistency in Interest Rate
The Central Bank’s Monetary Policy Committee kept the interest rate unchanged for 4 meetings, while in two meetings it increased the interest rate by about 1% and 2%, for a total of 3% through 2023.
Source
Source: RT
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