Egyptian Central Bank likely to hold rates at July 9 meeting

Economic experts anticipate that the Monetary Policy Committee of the Central Bank of Egypt will keep its policy rates unchanged at the scheduled meeting on Thursday 9 July 2026. Analyst Baher Abdul Aziz described a rate‑hold as the most consistent scenario given the recent moderation in inflation, a stable exchange‑rate market and improved foreign‑exchange inflows.

In the days leading up to the meeting, several Egyptian banks raised the interest rates on their savings certificates, reflecting the central bank’s current stance of a 19 % deposit rate and a 20 % lending rate. The higher yields on certificates offered by banks such as Banque Misr, the National Bank of Egypt, and CIB aim to attract deposits while the central bank signals no immediate easing.

Market observers note that the attractiveness of domestic debt instruments and the persistence of regional fiscal challenges also support expectations of a rate‑hold. A cut would only be considered if inflation continues its downward trend and macro‑economic indicators keep improving, allowing the bank to move toward a gradual easing policy.