Égypte Taux d'intérêt

The Central Bank of Egypt kept its key overnight deposit rate at 24% in July 2025, underscoring a cautious stance amid softer global growth forecasts—driven by trade policy uncertainty and renewed geopolitical tensions—and persistent volatility in oil and agricultural commodity prices. Domestically, the CBE’s Q2 nowcast points to a sustained recovery, with annual GDP growth near 4.8% and the output gap narrowing gradually. Meanwhile, annual headline inflation eased to 15.3% in Q2 from 16.5% in Q1, and core inflation moderated to 11.4% in June; both measures recorded modest monthly declines of 0.1% and 0.2%, respectively, driven by lower food prices and stable non-food inflation. Against this backdrop of improving inflation expectations and ongoing fiscal consolidation, the MPC judged that maintaining policy rates is appropriate to preserve the disinflation trajectory and will continue to monitor incoming data closely before considering further adjustments.