announce Egypt Bank Through an official statement, the interest rates on deposits, which start from 500 pounds and reach 10 million pounds, coincide with the decision of the Central Bank of Egypt, to raise the interest rate by 1% on deposits and lending last March.
وقال Egypt Bank The interest rate on deposits, whose value starts from 500 pounds to 10 million pounds, has been determined, so that the interest rate will be 4.375%, and the deposit time is less than two months, and deposits that start from 7 years for more than the interest rate have 5.625%.
As the price up Benefit To 6.00%, if the value of the deposit starts from 5 million and reaches 10 million. It is worth noting that the Central Bank of Egypt has decided to raise the rates of the overnight deposit and lending rates and the price of the main operation of the Central Bank.
This is by 100 basis points, to reach 9.25%, 10.25 percent, and 9.75%, respectively, and the credit and discount rate was raised by 100 basis points to reach 9.75%, and the Central Bank of Egypt revealed that it believes in the importance of exchange rate flexibility.
Thus, it is a tool that serves as a tool to absorb shocks and maintain Egypt’s competitiveness. The Central Bank of Egypt’s statement included that, for the central bank’s target inflation rate of 7%, on average during the fourth quarter of 2022; I decided to raise the yield by 100 basis points.