Egypt Raised Interest Rates by 3% in 2023

Updated 1/15/2024 1:35:00 PM
Egypt Raised Interest Rates by 3% in 2023

In 2023, the Central Bank of Egypt (CBE) raised interest rates by a total of 300 basis points (bps), of which 200 bps in March and 100 bps in August.  

In December, the CBE maintained the overnight deposit rate and the overnight lending rate at 19.25% and 20.25%, respectively.  

Additionally, the rate of the main operation was kept unchanged at 19.75% and the discount rate was also left unchanged at 19.75%. 

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