EGYPT · ECONOMY
Key Facts
- —What is happening Egypt’s central bank rate committee meets on Thursday 29 October 2026, its seventh meeting of the year, to decide on interest rates.
- —Why it matters Interest rates set what Egypt pays to borrow, what savers and bond buyers earn, and they influence the value of Egypt’s currency.
- —The numbers The overnight deposit rate is 19% and the lending rate 20%, while urban inflation eased to 13.9% in September from 14.5% in August.
- —Who is who The Central Bank of Egypt is the state’s monetary authority and CAPMAS is the state statistics agency that publishes official inflation figures.
- —What to watch Rates have not changed since a 100 basis point cut on 12 February, and the committee’s last meeting of the year is on 17 December.
- —What it means for you US investors in Egyptian bonds or emerging-market funds, and US firms operating in Egypt, are exposed to the rate level and the currency.
Egypt’s central bank decides on Thursday 29 October whether to keep its main interest rates at 19% and 20%. Inflation has eased, but food prices rose faster in September.
Egypt’s central bank will announce its next interest rate decision on Thursday 29 October 2026. It is the seventh of eight scheduled meetings of its Monetary Policy Committee this year.
The committee has held its main rates since a cut in February, and five straight meetings have ended without a change. Urban inflation fell to 13.9% in September, still far above the bank’s target.
The decision matters to US readers because it sets Egyptian bond yields and influences the currency. No analyst forecast for this specific meeting was found, so this is a preview of the facts.
What the Central Bank Decides on Thursday
The Monetary Policy Committee of the Central Bank of Egypt votes on the bank’s key interest rates. Youm7 and Bnok24 both put the seventh meeting of 2026 on Thursday 29 October.
Youm7 lists the 2026 meetings as 12 February, 2 April, 21 May, 9 July, 20 August, 24 September and 29 October. The eighth and last is set for Thursday 17 December.
Bnok24, a banking news site, gives the same date, meeting count and rates in a 13 October preview. Neither outlet names an analyst forecast, and the bank’s own calendar page refused access.
In Plain English
- Overnight deposit rate: what banks earn when they park money at the central bank for one night.
- Overnight lending rate: what banks pay to borrow from the central bank for one night.
- Basis point: one hundredth of a percentage point, so 100 basis points equal one point.
- Hold: the committee leaves the rates where they are.
Where Egypt’s Interest Rates Stand Now
The overnight deposit rate is about 19% and the overnight lending rate about 20%. The main operation rate and the credit and discount rate are both 19.50%.
On Thursday 24 September the committee left all four rates unchanged. Daily News Egypt carried the same figures from the bank’s statement.
Amwal Al Ghad and Youm7 report that the last change was a 100 basis point cut on Thursday 12 February. Daily News Egypt lists the five holds as 2 April, 21 May, 9 July, 20 August and 24 September.
What Inflation Is Doing
CAPMAS, Egypt’s statistics agency, put annual urban inflation at 13.9% in September, down from 14.5% in August. Daily News Egypt published the figure on 10 October.
Monthly inflation jumped to 1.3% in September from 0.1% in August, driven mainly by vegetables and food. Annual food inflation rose to 7.2% from 6.3%, while non-food inflation eased to 18% from 19.5%.
Daily News Egypt says the central bank’s core measure, which strips out volatile items, fell to 14.1% from 14.9%. Core monthly inflation was 0.8%, against 0.3% in August.
Measured against the 13.9% inflation rate, the 19% deposit rate leaves a gap of about 5.1 percentage points. That gap is a simple calculation, not an official figure.
What the Central Bank Said in September
In its 24 September statement the committee said annual headline inflation should hold steady in the third quarter. It expects a gradual fall toward its 7% target, give or take 2 points, in the second half of 2027.
The committee also said risks to inflation remain tilted to the upside, citing renewed regional hostilities. Daily News Egypt carried that account of the statement.
What Analysts Said Earlier This Year
No named analyst forecast for 29 October was found. The views below are older, from mid-June and mid-August, and may have changed.
Arab Finance reported on 16 August that Morgan Stanley expects rates unchanged through 2026. It sees a possible 2-point cut in the fourth quarter if inflation falls below 13%.
WAYA reported on 17 June that Fitch Solutions expects rates unchanged through 2026, with cuts returning in 2027. September’s 13.9% remains above Morgan Stanley’s 13% threshold.
What It Means for US Readers
US investors in Egyptian government debt or emerging-market funds watch this decision because it sets local yields and influences the currency. A hold keeps rates where they have been since February.
US companies operating in Egypt face borrowing costs and currency moves that follow the central bank’s choices. The committee itself points to regional hostilities as an upside risk to prices.
What Is Not Known
No named analyst forecast for 29 October was found, and the direction of the decision is not known. The only named views found are from June and August.
The bank’s own calendar page refused access, so the date and the seventh-meeting count rest on Youm7 and Bnok24. The 17 December date and the full list of meetings rest on Youm7 alone.
Core inflation and the September statement wording come from Daily News Egypt, because the central bank’s site could not be opened. Neither could be checked against the bank’s own statement or the CAPMAS release.
What Comes Next
The committee announces its decision on Thursday 29 October. Youm7 lists its eighth and final meeting of 2026 for Thursday 17 December.
CAPMAS publishes inflation monthly, so the October figure is due in November, though no date was confirmed. That figure will shape expectations for the December meeting.
Frequently Asked Questions
When does Egypt’s central bank decide on interest rates?
The Monetary Policy Committee meets on Thursday 29 October 2026, its seventh meeting of the year. Youm7 lists the eighth and last for Thursday 17 December.
What are Egypt’s main interest rates now?
The overnight deposit rate is about 19% and the overnight lending rate about 20%. The main operation rate and the credit and discount rate are both 19.50%.
What did the central bank do last time?
On Thursday 24 September 2026 the committee kept all key rates unchanged. The last change was a 100 basis point cut on 12 February.
How high is inflation in Egypt?
Annual urban inflation was 13.9% in September, down from 14.5% in August. Daily News Egypt says core inflation was 14.1%.
What do analysts expect on 29 October?
No named forecast for this meeting was found. In June, Fitch Solutions expected unchanged rates through 2026.
Sources: Youm7, 23 October 2026 (Arabic); Bnok24, 13 October 2026 (Arabic); Daily News Egypt, 10 October 2026; Daily News Egypt, 19 October 2026; Amwal Al Ghad, 12 February 2026; Arab Finance, 16 August 2026; WAYA, 17 June 2026 (accessed 24 October 2026).
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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