Key Policy Rate (CBE) in Egypt

Banco Central de Egipto · Per meeting · Importance 95

19.00% (20 Aug) ABS · % · Diario · CSV

About this indicator

Source	Central Bank of Egypt (CBE)
Frequency	Per meeting
Release	En cada reunion del Comite de Politica Monetaria (MPC) del CBE (calendario publicado en cbe.org.eg/en/monetary-policy/mpc-meetings-schedule), normalmente jueves por la tarde hora de El Cairo
What it is	Egypt's official interest rate: the overnight deposit rate set by the Central Bank of Egypt (CBE). It is the benchmark for Egyptian monetary policy; the CBE also sets the overnight lending rate and the main operation rate within a corridor around it.
How it's calculated	It is not a statistic: the CBE's Monetary Policy Committee (MPC) decides the level at its meetings (eight a year), guided by inflation and the economic situation. The decision is announced the same day and takes effect within a few days.
Market implications	A hike raises borrowing costs to curb inflation and tends to strengthen the Egyptian pound (EGP); a cut cheapens credit to support the economy. Given Egypt's high inflation, its decisions are closely watched by debt and currency investors.
Limitations	It changes only on decision dates (a step function). The CBE also manages the exchange-rate regime and the reserve requirement, which interact with the policy rate and can matter as much as it for monetary conditions.