Egypt .. keeping the basic interest rates unchanged

The Monetary Policy Committee of the Central Bank of Egypt decided at its meeting today, Thursday, to keep the main interest rates unchanged, which came in agreement with the expectations of analysts.
The Central Bank said in a statement published on its website that the committee kept on the price of the return and lending for one night and the price of the main operation of the Central Bank at 27.27%, 28.5% and 275.75%, respectively, and decided to keep the credit and discount price at 275.7%.

Economic activity growth

He explained that some central banks in the advanced and emerging economies alike continued to gradually reduce their return prices despite the uncertainty that still surrounds the prospects for economic growth and inflation globally, while other central banks decided to follow a warning approach in anticipation of successive global economic developments.

The bank added that at the local level, the initial indicators of the fourth quarter of 2024 are useful for the growth of economic activity at a faster rate than the third quarter of the same year, which recorded 3.5%, indicating the continuous recovery in economic activity.
The real GDP growth came in the third quarter of 2024, which is primarily driven by the increase in the contribution of the manufacturing and transportation industry.
Nevertheless, the product gap estimates indicate that the real gross domestic product is still less than its maximum capacity, supports the expected inmate for inflation in the short term.