James Swanston

Stories

Egypt's central bank raises key interest rates by 100 basis points

Pre-decision view backed holding rates

The central bank's October 29 hike lifted the overnight deposit rate to 20% and the lending rate to 21%, the first increase since March 2024. Days later, the biggest banks raised returns on variable-rate savings certificates: National Bank of Egypt to 20.50%, Banque Misr and Commercial International Bank to 20.25%.

Updated 3 days ago