CAIRO, Feb. 12 (Xinhua) -- The Central Bank of Egypt (CBE) on Thursday lowered its key interest rates by 100 basis points, or 1 percent.
The CBE announced in a statement its decision to cut the overnight deposit rate, overnight lending rate, and the main operation rate by 100 basis points to 19.0 percent, 20.0 percent, and 19.5 percent, respectively. The discount rate was also reduced to 19.5 percent.
In a separate move, the CBE cut the required reserve ratio for commercial banks from 18 percent to 16 percent.
The CBE said the decision reflects the Monetary Policy Committee (MPC)'s updated assessment of current inflation trends and the evolving economic outlook since its last meeting.
The CBE began easing rates in April 2025 after the lending rate peaked at 27.25 percent, as part of an 8 billion U.S. dollars support package with the International Monetary Fund in March 2024. Since then, the MPC has reduced key interest rates by a cumulative 7.25 percent, amid a sustained decline in inflation from its 2023-2024 highs. ■