MPC cuts key policy rates by 100 bps; CBE Board of Directors lowers the required reserve ratio to 16 percent
The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) today decided to cut key policy rates by 100 basis points. Accordingly, the overnight deposit rate, overnight lending rate, and the rate of the main operation were reduced to 19.0 percent, 20.0 percent, and 19.5 percent, respectively. The discount rate was also cut to 19.5 percent. In addition, the CBE Board of Directors reduced the required reserve ratio (RRR) for commercial banks from 18 percent to 16 percent. These decisions reflect the Committee’s assessment of current inflation dynamics and the evolving outlook since the previous MPC meeting
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