In a move that surprised financial markets, Egypt’s Central Bank has reduced interest rates by 200 basis points in a single decision, exceeding analysts’ expectations who had forecast a cut of no more than 100 basis points. As a result, the overnight deposit rate now stands at 22%, while the overnight lending rate is set at 23%. This shift marks a clear pivot toward stimulating economic expansion after an extended period of tight monetary policy aimed at curbing inflation.
The central bank’s decision follows an assessment by its monetary policy committee of recent inflation trends, which showed a decline to 13.9% in July, down from 14.9% the previous month. This downward trajectory in price pressures provided the necessary room for a more aggressive easing stance. The institution emphasized that underlying inflation dynamics have shown signs of stabilization, supporting the case for a larger-than-expected rate reduction.
The rate cut is expected to lower borrowing costs across the economy, encouraging credit expansion for businesses and consumers alike. Analysts suggest this could invigorate investment activity, particularly in sectors such as construction, manufacturing, and small enterprises that rely heavily on financing. Lower interest expenses may also ease pressure on government debt servicing, potentially freeing up fiscal space for development projects.
Market reactions were mixed. While equity markets responded positively, reflecting optimism about improved corporate profitability, the Egyptian pound weakened slightly against the U.S. dollar in overnight trading, raising concerns about potential capital outflows. However, the central bank reaffirmed its commitment to maintaining macroeconomic stability and ensuring that inflation remains within its target range over the medium term.
This policy shift underscores a strategic recalibration in response to evolving domestic and global economic conditions. With inflation showing sustained moderation, authorities are now prioritizing growth stimulation to support job creation and enhance economic resilience. The central bank indicated that future decisions will remain data-dependent, closely monitoring inflation, growth indicators, and external developments.
— news from khaleejgate.net
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البنك المركزي المصري يفاجئ الأسواق بخفض الفائدة لدعم النمو الاقتصادي
أعلن البنك المركزي المصري عن خفض أسعار الفائدة بمقدار 200 نقطة أساس دفعة واحدة، في خطوة فاجأت الأسواق كونها أعلى من توقعات المحللين الذين رجحوا خفضًا لا يتجاوز 100 نقطة أساس. وبهذا القرار، يصبح سعر الفائدة على الإيداع لليلة واحدة 22%، فيما يبلغ سعر الإقراض لليلة واحدة 23%، وهو ما يعكس توجهًا واضحًا نحو تحفيز النمو الاقتصادي بعد فترة طويلة من السياسات النقدية المتشددة لمواجهة التضخم n nخفض الفائدة وتأثيره على التضخم n nقرار البنك المركزي جاء نتيجة تقييم لجنة السياسة النقدية لمستجدات التضخم الذي تراجع إلى 13.9% في يوليو مقابل 14.9% في