Central Bank of Egypt to hold 8 monetary policy meetings in 2021

The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) will be holding eight meetings during 2021 to determine the basic interest rates of the CBE, which is the most prominent indicator of interest rates in Egypt in the short term.

The MPC had reduced interest rates by 4% over three separate meetings this year, in a preemptive step to limit the repercussions of the novel coronavirus (COVID-19) on the Egyptian economy.

The CBE’s interest rates are currently 8.25% for deposit, 9.25% for lending, and 8.75% for credit, debit, and main operation rates.

The MPC will hold its last meeting this year on Thursday to discuss the future of these prices. The rise in inflation during November has made the country’s interest rates’ fate open to speculation.

Read More: https://dailynewsegypt.com/2020/12/19/central-bank-of-egypt-to-hold-8-monetary-policy-meetings-in-2021/