The high-yield certificates of deposits from the National Bank of Egypt and Banque Misr will expire on January 2024, offered at around the start of 2023 at an interest rate of 22.5 percent for a monthly exchange period and 25 percent at the end of the specified period of one year only.
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CBE Sets New Date for Reviewing Key Interest Rates CBE Sets New Date for Reviewing Key Interest Rates
The Central Bank of Egypt (CBE) decided to bring forward the date of the next meeting of the Monetary Policy Committee (MPC) to review key interest rates on Wednesday, April 28, due to the Sinai Liberation Day holiday.
MPC decided in its last meeting in March to keep the overnight deposit rate, overnight lending rate, and the rate of the main operation unchanged at 8.25%, 9.25%, and 8.75%, respectively. The discount rate was also kept unchanged at 8.75%.
It kept rates unchanged for the third time in a row at Nov. 2019 rates.