The Monetary Policy Committee of the Central Bank of Egypt decided at its seventh meeting of 2026, held today, Thursday 29 October, to raise key interest rates by 100 basis points, or 1%, in light of economic developments, an unfavourable external environment and rising uncertainty.

Under the decision, the overnight deposit rate rose to 20% and the overnight lending rate to 21%, while the rate of the CBE's main operation rose to 20.5% and the credit and discount rate to 20.5%.

The central bank said the decision aims to anchor inflation expectations and keep inflation on its downward path, amid continued uncertainty in the global economic environment.