Egypt’s central bank left its benchmark interest rates unchanged on Thursday, keeping the overnight deposit rate at 19% and the overnight lending rate at 20%.
The decision, announced by the central bank’s Monetary Policy Committee, follows a period of elevated price pressures in the Egyptian economy. The central bank cited persistent inflation risks as a key factor in its decision to maintain the current rate levels.
The rates, which serve as the primary tools for managing liquidity and influencing borrowing costs in the banking system, have remained unchanged since the last adjustment. The central bank’s statement did not indicate any immediate plans for further policy changes.
The decision comes amid broader economic challenges in Egypt, including inflationary pressures that have weighed on consumer purchasing power. The central bank’s move aligns with efforts to balance price stability with economic growth amid global and domestic financial conditions.
