埃及央行宣布，降息200个基点
Zhong Guo Ji Jin Bao·2025-08-29 01:11

Group 1 - The Central Bank of Egypt lowered the key policy rate by 200 basis points, with overnight deposit and loan rates adjusted to 22.00% and 23.00% respectively, marking the third rate cut since April 2025 [1] - The Central Bank's monetary policy committee believes that this rate cut aligns with the goal of maintaining an appropriate monetary policy stance, helping to anchor inflation expectations and continue the downward trend in inflation [1] - The Egyptian economy is projected to grow at a rate of 5.4% in Q2 2025, up from previous expectations, with an average growth rate of 4.5% for the fiscal year 2024/2025, compared to just 2.4% for 2023/2024 [1] Group 2 - Inflation rates in Q2 2025 decreased to 15.2% from 16.5% in the previous quarter, with monthly data showing negative growth in overall and core inflation [2] - The Central Bank forecasts an average inflation rate of 14% to 15% for the entire year of 2025, creating room for gradual monetary policy easing [2] - The monetary policy committee will reassess the pace and extent of monetary easing at each meeting based on inflation forecasts and economic data, aiming for an average inflation target of 7% by Q4 2026 and 5% by Q4 2028 [2] Group 3 - The Central Bank of Egypt has previously cut rates twice this year, with a significant reduction of 225 basis points in April and another cut of 100 basis points in May, indicating a shift to a loosening monetary policy cycle [3] - The economic rebound driven by non-oil manufacturing, wholesale retail, and tourism has allowed for these rate cuts, with the lowest inflation rates recorded in three years [3] - The Central Bank had previously engaged in a tightening cycle starting in March 2022, raising the overnight deposit rate from 8.25% to 27.25% before initiating the current easing phase [3] Group 4 - The Central Bank of Egypt's decision to lower interest rates aligns with a global trend of central banks entering a rate-cutting cycle, particularly in light of significant declines in inflation rates during Q1 of this year [4]