Al Saraf noted that the Central Bank of Egypt (CBE) continues to prioritize inflation as the main policy anchor, closely monitoring the impact of interest rates on price dynamics and overall demand.
The central bank also kept the main operation and discount rates unchanged at 19.5%, citing recent inflation developments and forecasts amid an uncertain global environment.
The overnight deposit rate was reduced to 19%, the overnight lending rate to 20%, and the main operation rate to 19.5%, while the discount rate was also lowered to 19.5%.
Egypt’s gold pound holds near record highs at EGP 56,600 as Fed pauses and safe-haven demand boosts bullion.
This decision is based on the Committee’s updated evaluation of inflation trends and its revised outlook since the last MPC meeting.
