Central Bank of Egypt holds interest rates steady at 19% and 20%

The Central Bank of Egypt has maintained its key interest rates for the fifth consecutive meeting, holding the overnight deposit rate at 19% and the lending rate at 20%. This decision follows a downward trend in inflation, which was recorded at 14.5% in August 2026.

In response to the decision, major lenders including the National Bank of Egypt and Banque Misr continue to offer various savings certificates. At the National Bank of Egypt, the Platinum Certificate offers a fixed annual return of 17.75% with monthly payouts or 17.85% with quarterly payouts. A variable-rate Platinum Certificate is also available at 19.50% annually, linked to the central bank's deposit rate.

Banque Misr provides several options, including the ‘Al Qemma’ certificate with a 17.75% monthly fixed return and the ‘Ibn Misr’ certificate featuring declining rates over three years. The bank also offers variable-rate certificates at 19.25% and a cumulative certificate with a total return of 66.56% after three years. The Central Bank expects inflation to stabilize in the third quarter of 2026 before gradually reaching a target of 7% in the second half of 2027.