The Banker website publishes in the following report the 9 most important points in the interest rate stabilization statement from the Central Bank of Egypt. The Monetary Policy Committee of the Central Bank of Egypt decided in its meeting on Thursday, November 21, 2024, to maintain the overnight deposit and lending interest rates and the Central Bank’s main operation rate at 27.25%. And 28.25% and 27.75%, respectively. It also decided to keep the credit and discount rates at 27.75%.
This decision reflects the latest developments and expectations at the global and local levels since the previous meeting of the Monetary Policy Committee.
• Restrictive monetary policies contributed to low inflation
• Growth prospects remain subject to some risks
• The possibility of a return to protectionist trade policies
• Upside risks surrounding inflation remain
• Expectations of continued growth in economic activity for the fourth quarter of 2024
• Expectations of the growth of the Egyptian economy by the fiscal year 2024-2025.
• Inflation expectations improve and continue on the downward path
• Expectations that inflation will stabilize at its current levels until the end of 2024
• The inflation rate is expected to decline starting in the first quarter of 2025.
