In a clear bid to loosen the grip on borrowing costs, the Central Bank of Egypt has lowered its benchmark interest rates by one percentage point.
The decision signals an attempt to inject fresh momentum into the economy, offering some breathing room to businesses weighed down by expensive credit and to consumers navigating tight financial conditions.
With the latest adjustment, the overnight deposit rate now stands at 29 per cent, while the overnight lending rate has been set at 20 per cent. The bank’s main operation rate has been revised to 19.5 per cent.
The rate cut reflects a balancing act—encouraging economic activity without unsettling broader financial stability. For borrowers across Egypt, the move could translate into slightly lighter repayment burdens and renewed appetite for investment.
