Latest bank decision: At its meeting on 26 March, the Central Bank decided to cut the target for the overnight...
Overnight Deposit Rate in Egypt
The Overnight Deposit Rate (%, eop) ended 2024 at 27.25%, up from the 19.25% end-2024 value and down from the reading of 9.25% a decade earlier. For reference, the average interest rate in Middle East & North Africa was 6.72% at end-2024. For more information on interest rate, visit our dedicated page.
Egypt Interest Rate Chart
Note: This chart displays Policy Interest Rate (%) for Egypt from 2014 to 2025.
Source: Macrobond.
Egypt Interest Rate Data
| 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|
| Overnight Deposit Rate (%, eop) | 8.25 | 16.25 | 19.25 | 27.25 | 20.00 |
Central Bank of Egypt decreases rates in February
CBE brings rates to an over two-year low: At its meeting on 12 February, the Central Bank of Egypt (CBE) decided to cut key policy rates by 100 basis points, reducing the overnight deposit, overnight lending and main operations rates to 19.00%, 20.00% and 19.50%, respectively. The reduction brought total cuts to 825 basis points since April 2025, taking policy rates to the lowest level since mid-2023. Moreover, the Bank lowered the required reserve ratio for commercial banks from 18.00% to 16.00%, intensifying efforts to boost business lending and accelerate the country’s economic rebound.
Disinflation prompts rate cuts: Falling headline and core inflation were key factors influencing the CBE's decision, with declining inflation driven by easing price pressures for food, exchange rate appreciation and subdued demand. Moreover, the CBE expects GDP growth to have moderated to around 4.9% in Q4 2025 compared to 5.3% in the previous quarter, further supporting the case for an interest rate cut to stimulate economic activity.
Further reductions expected this year: The CBE gave no explicit guidance on future rate moves, but all our panelists expect the Bank to reduce rates further by year-end, with a 200–600 basis point spread. The CBE will reconvene on 2 April.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Egyptian interest rate projections for the next ten years from a panel of 13 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable interest rate forecast available for Egyptian interest rate.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Egyptian interest rate projections.
Want to get access to the full dataset of Egyptian interest rate forecasts? Send an email to info@focus-economics.com.
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