Skip to main content

Egypt keeps interest rates unchanged to start 2023

Inflation in Egypt was on the rise at the end of 2022, with food prices being of particular concern.
A peddler sells roasted corn cobs by the medieval Sultan al-Ghuri Complex in the Azhar district of Cairo.

The Central Bank of Egypt decided Thursday to keep its interest rates unchanged. 

The bank’s Monetary Policy Committee said they will leave four of their key policy rates as they are in order to “assess the impact” of last year’s rate hikes, saying that the effects of such actions tend to “lag.” The committee acknowledged that inflation is still present in Egypt and worldwide, according to a press release. 

Access the Middle East news and analysis you can trust

Join our community of Middle East readers to experience all of Al-Monitor, including 24/7 news, analyses, memos, reports and newsletters.


Only $100 for annual access.