Egypt’s central bank cut interest rates for the first time by 2.25 percent in over five years on Thursday, April 17, saying falling prices could lead to more cuts soon, according to an official statement. The overnight deposit rate is now 25 percent, the overnight lending rate is 26 percent, and the main operation rate is 25.5 percent. The discount rate was also brought down and now matches the main operation rate at 25.5 percent. These rates affect how much it costs for banks to borrow or lend money, and, in turn, they influence the interest rates people see when borrowing or saving money. By lowering these rates, the Central Bank is trying to make borrowing cheaper, which can encourage people and businesses to take out loans and spend more money. This can help stimulate the economy, especially if inflation is low or under control. Inflation declined significantly by approximately 9 percent in the first quarter of 2025, facilitating the Central Bank’s decision to begin lowering interest rates, as noted in the statement. Inflation is projected to continue decreasing throughout 2025 and 2026, though the pace of this decline…
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