Egypt's Central Bank decided to keep its key interest rates on the Egyptian pound unchanged at a Monetary Policy Committee meeting on Thursday, maintaining current levels for the third consecutive time since the start of 2026, in a move that reflects the bank's continued assessment of inflation developments and economic conditions.
The bank kept the overnight deposit rate at 19% and the overnight lending rate at 20%, unchanged from the levels set at its February 2026 meeting, when it last cut interest rates as part of its monetary easing cycle.
The Central Bank had begun its rate-cutting cycle in April 2025, implementing a series of consecutive reductions totalling 725 basis points by the end of 2025, before the cumulative total rose to 825 basis points following the February 2026 decision.
The hold decision comes amid continued monitoring of inflation rates and global economic developments, particularly movements in energy prices and the monetary policies of major central banks, while maintaining the attractiveness of the Egyptian pound for investments in domestic debt instruments.
Globally, investors are watching the direction of central banks, as the US Federal Reserve kept interest rates unchanged at its most recent meeting within a range of 3.5% to 3.75% for the fourth consecutive time, amid persistent concerns linked to inflation and the impact of geopolitical tensions on oil prices.
Egypt's continued rate hold reflects the Central Bank's approach of striking a balance between supporting economic activity and maintaining price stability, following an extensive monetary easing cycle aimed at reducing financing costs and stimulating investment.