central bank

Central Bank of Egypt cuts interest rates by 2%

The Central Bank of Egypt (CBE) decided on Thursday evening to cut interest rates on deposits and lending by 2 percent, or 200 basis points. The overnight deposit rate now stands at 22 percent, and the lending rate is 23 percent. This decision was made during the fifth meeting of the Monetary Policy Committee in …

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Egypt Independent August 29, 2025

Central Bank of Egypt cuts key interest rates

The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE), at the conclusion of its meeting this Thursday, decided to reduce the overnight deposit and lending rates by one percentage point, setting them at 24 percentage and 25 percentage respectively. The Central Bank uses interest rates as a tool to manage inflation—which signifies …

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Egypt Independent May 23, 2025

Egyptian banks cut interest rates on variable certificates following Central Bank move

In an automatic move responding to the Central Bank of Egypt’s reduction of key interest rates, banks operating in Egypt have decided to decrease interest rates on variable-yield certificates by 2.25%. The Monetary Policy Committee of the Central Bank “ALICO” announced a 225 basis point cut in the overnight deposit and lending rates, as well …

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Egypt Independent April 18, 2025

The Central Bank of Egypt report that fell on deaf ears

If the external debt were to increase by a dollar, a fierce storm would erupt against the government, and analyses,comments, and negative, discouraging expectations would follow in succession. However, the news of Egypt’s external debt declining to $160.6 billion at the end of March 2024, compared to $164.5 billion at the end of the first quarter of 2023/2024, has, as usual, passed unnoticed. There are no …

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Egypt Independent September 26, 2024

Know your InstaPay limits: Egyptian Central Bank announces new rules

The Central Bank of Egypt (CBE) has increased the daily and monthly spending limits for digital payments made using apps like InstaPay. The Central Bank has announced the following withdrawal limits Maximum amount per transaction: 70,000 Egyptian Pounds. Maximum daily amount: 120,000 Egyptian Pounds. Maximum monthly amount: 400,000 Egyptian Pounds. This announcement from the CBE …

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Egypt Independent September 15, 2024

Lebanon’s former central bank chief Riad Salameh arrested

Lebanon’s former central bank chief Riad Salameh arrested Salameh is seen as one of the figures behind Lebanon’s 2019 economic

Middle East Eye September 4, 2024

Bringing down prices: Government and Central Bank of Egypt prioritize inflation relief

Prime Minister Mostafa Madbouly reviewed during his meeting on Thursday with Governor of the Central Bank of Egypt (CBE) Hassan Abdullah cooperation efforts between the government and the Central Bank. Al-Homsani explained that the meeting focused on discussing the collaborative efforts between the government and the Central Bank in the upcoming period. The importance of …

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Egypt Independent July 5, 2024

Egypt’s Central Bank holds interest rate steady for the first time this year

The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) decided on Thursday to keep the interest rate at its current levels for the first time this year, following two MPC meetings earlier in the year. The committee decided to maintain the overnight deposit and lending rates and the main repurchase rate at …

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Egypt Independent May 25, 2024

Central Bank of Egypt offers LE60 bln in Treasury bills

The Central Bank of Egypt (CBE) offered LE60 billion in Treasury bills on Thursday through two tenders. The first tender is for LE30 billion with a maturity of 182 days, and the second tender is for LE30 billion with a maturity of 364 days, according to the CBE’s website. The Ministry of Finance authorizes the …

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Egypt Independent March 1, 2024