Egypt Central Bank Holds Interest Rates at 19 Percent

The Central Bank of Egypt kept overnight interest rates unchanged on Thursday to manage inflation risks. The monetary policy committee held the deposit rate at 19% and the lending rate at 20%. This pause aligns with market expectations as regional conflict continues to pressure the domestic economy.

### Inflation Remains Above Target Range The decision followed an unexpected slowdown in annual urban consumer price inflation to 14.9% in April, down from 15.2% in March. Despite this dip, price growth remains well above the CBE's target of 5% to 9% by the last quarter of 2026. Core inflation, which excludes volatile food and fuel costs, also decreased to 13.8% in April from 14% in March.