The Central Bank of Egypt’s Monetary Policy Committee kept its key rates unchanged on 2 April 2026. The overnight deposit rate stayed at 19.00%, the overnight lending rate at 20.00%, and the main operation and discount rates at 19.50%.
The hold paused an easing cycle that included a 100 basis point cut on 12 February 2026, when the CBE’s board of directors also lowered banks’ reserve requirement ratio from 18% to 16%.
INFLATION RISKS MATERIALISE
Annual urban headline inflation rose to 13.4% in February from 11.9% in January, and core inflation to 12.7% from 11.2%. The committee said the ongoing regional conflict had materialised the upside risks to inflation flagged in its February statement, with the effects transmitted domestically through fiscal consolidation measures and exchange-rate volatility.
Sources: Central Bank of Egypt, MPC press releases; Daily News Egypt, 4 April 2026.