The Central Bank of Egypt announced today, Thursday, April 17, that the interest rate was reduced by 2.25% in the second meetings of the Monetary Policy Committee this year, as this came for the first time in 2020.
The central bank decides to reduce the interest rate on deposit and lending
In its meeting today, the Monetary Policy Committee decided to reduce the deposit and lending price for one night and the price of the main process of the central bank to 25%, 26% and 25.50%, respectively.
It also decided to reduce the price of credit and deduction by 225 basis points to reach 25.50%, as this came according to the economic data in the Egyptian market.
Understanding globally regarding the prospects for economic growth and inflation led to the adoption of central banks in some of the economies of advanced and emerging markets, a cautious approach to the future path of monetary policy.
While economic growth remains largely stable, it is expected that recent developments in global trade will reduce expectations due to fears of supply chains disorder and poor global demand, and in particular, oil prices have decreased significantly due to factors related to the offer and expectations of global demand declining in light of the continuation of uncertainty about commercial policies.
