CAIRO – 21 July 2024: The Central Bank of Egypt (CBE) is expected to implement a series of interest rate reductions in the coming months, according to a report by Goldman Sachs. Goldman Sachs predicts that these rate cuts will result in a cumulative reduction of approximately 11.25 percent by the end of 2025, bringing the interest rate to 13 percent. In light of these projections, the report suggests that interest rates within Egypt's IMF program may also decrease due to inflation trends. This indicates a potential opportunity for interest rate reduction. The overnight deposit rate, overnight lending rate, and the rate of the main operation remained unchanged at 27.25 percent, 28.25 percent, and 27.75 percent respectively.

Source: Egypt Today July 21, 2024 14:33 UTC