The central bank of Egypt left its benchmark overnight deposit interest rate unchanged at 14.75 percent on March 30th, in line with market expectations. Borrowing cost was left at its highest level since 1994 as inflation is on an upward trend. Yet, it rose to 30.2 percent in February, the highest level since November 1989, boosted by food and beverages. The overnight lending rate was also left steady at 15.75 percent. Interest Rate in Egypt averaged 11.45 percent from 1991 until 2017, reaching an all time high of 21.40 percent in October of 1991 and a record low of 8.25 percent in September of 2009.
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In Egypt, interest rate decisions are taken by the Central Bank of Egypt (CBE). The Central Bank of Egypt official interest rate is the overnight deposit rate. The CBE is committed to achieving, over the medium term, low rates of inflation which it believes are essential for maintaining confidence and for sustaining high rates of investment and economic growth. This page provides – Egypt Interest Rate – actual values, historical data, forecast, chart, statistics, economic calendar and news. Egypt Interest Rate – actual data, historical chart and calendar of releases – was last updated on April of 2017.