Tuesday 04/March/2025 – 01:37 PM
Today, Tuesday, February 25, 2025, the Central Bank of Egypt announced the withdrawal of liquidity from the banks operating in the banking sector, at a value of 919.6 billion pounds, as part of the open market deposits through giving the weekly deposit with a fixed return.
The central bank withdraws liquidity
According to the data issued by the Central Bank, 25 banks submit to participate in the tender, by offering an interest rate of 27.75%, as the amount was 100%allocated.
Through this mechanism, the Central aims to control inflationary pressures as one of the tools available in the hands of monetary policy to absorb liquidity.
The Central Bank announced the withdrawal of liquidity by 506.850 billion pounds in the open market bid last Tuesday, February 25, 2028 from 25 banks after its recent decision to amend the bidding acceptance policies of 27.75%.
From this step, the bank aims to enhance the stability of the financial market and control the levels of cash liquidity, within the framework of its monetary policy to face the current economic challenges.
The central bank announced earlier that starting on Tuesday, April 23, 2024, the main process will be carried out for a period of 7 days at a fixed return price by accepting all the bids provided completely Full Allotment, according to the price of average Coridor.
Central Bank meeting
The Egyptian Central Bank of Central Policy Committee met on Thursday 20 February 2025, its first meeting during the new year, to discuss and determine interest rates on deposit and lending operations, in which it was approved to install the interest rate for the seventh time in a row.
The funds of banks and companies joining the initiative of the Central Bank of Egypt for real estate financing for low -income people, at the end of last February 2025, recorded a significant increase in 81.7 billion pounds for the number of clients approximately 619.327 thousand customers.
