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CBE keeps overnight deposit, overnight lending rates unchanged

The monetary policy committee (MPC) decided to keep the Central Bank of Egypt (CBE)’s overnight deposit rate, overnight lending rate, and the rate of the main operation unchanged at 16.75%, 17.75%, and 17.25%, respectively. The discount rate was also kept unchanged at 17.25%. The CBE said in a press statement on Thursday that the anticipated …

Daily News Egypt

EGP 3.027tn total deposit balances in 2016/2017 

Total deposit balances increased in 2016/2017 to reach EGP 3.027tn, an increase of 43.1%, according to the Central Agency for Public Mobilisation and Statistics (CAPMAS). The CAPMAS attributed this increase to shares of the household sector and private business sector, as well as to the contribution of the economic measures adopted since January 2016, which …

Shaimaa Raafat

Central Bank of Egypt

33 banks offer investments worth EGP 278.85bn in CBE’s deposit operation

Thirty-three banks operating in the domestic market offered investments worth EGP 278.85bn of surplus liquidity in local currency via deposit operations, which was deposited by the Central Bank of Egypt (CBE) on Tuesday, according to data obtained by Daily News Egypt. The CBE performs this deposit operation every Tuesday, in order to absorb excess liquidity …

Hossam Mounir

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