{"version":"1","article":{"id":"egypt-cbe-holds-policy-rates-september-2026","slug":"egypt-cbe-holds-policy-rates-september-2026","language":"en","url":"https://haberpaper.com/en/news/egypt-cbe-holds-policy-rates-september-2026","api_url":"https://haberpaper.com/api/v1/articles/egypt-cbe-holds-policy-rates-september-2026?lang=en","title":"Egypt’s central bank holds rates as inflation outlook remains exposed to risks","summary":"On 24 September, the Central Bank of Egypt kept its overnight deposit rate at 19%, lending rate at 20% and main operation rate at 19.5%. August annual headline inflation was 14.5% and core inflation 14.9%.","category":"finance","region":"world","topics":[],"published_at":"2026-10-10T15:42:15+03:00","modified_at":"2026-10-10T15:42:15+03:00","publication_basis":"publication-record","event_period":"2026-09-24","event_period_basis":"event-or-reference-period","sources":[{"name":"Central Bank of Egypt (CBE)","url":"https://www.cbe.org.eg/en/news-publications/news/2026/09/24/15/38/mpc-press-release-24-september-2026","publishedAt":"2026-09-24","checkedAt":"2026-10-10"}],"translations":[{"language":"tr","url":"https://haberpaper.com/tr/news/egypt-cbe-holds-policy-rates-september-2026","api_url":"https://haberpaper.com/api/v1/articles/egypt-cbe-holds-policy-rates-september-2026?lang=tr"},{"language":"en","url":"https://haberpaper.com/en/news/egypt-cbe-holds-policy-rates-september-2026","api_url":"https://haberpaper.com/api/v1/articles/egypt-cbe-holds-policy-rates-september-2026?lang=en"},{"language":"ar","url":"https://haberpaper.com/ar/news/egypt-cbe-holds-policy-rates-september-2026","api_url":"https://haberpaper.com/api/v1/articles/egypt-cbe-holds-policy-rates-september-2026?lang=ar"},{"language":"fr","url":"https://haberpaper.com/fr/news/egypt-cbe-holds-policy-rates-september-2026","api_url":"https://haberpaper.com/api/v1/articles/egypt-cbe-holds-policy-rates-september-2026?lang=fr"},{"language":"es","url":"https://haberpaper.com/es/news/egypt-cbe-holds-policy-rates-september-2026","api_url":"https://haberpaper.com/api/v1/articles/egypt-cbe-holds-policy-rates-september-2026?lang=es"}],"data_types":["events","metrics","series"],"data":{"version":1,"blocks":[{"id":"mpc-decision","type":"events","title":{"tr":"Mısır Merkez Bankası faiz oranlarını sabit tuttu; enflasyon görünümünde riskler sürüyor","en":"Egypt’s central bank holds rates as inflation outlook remains exposed to risks","ar":"البنك المركزي المصري يثبت أسعار الفائدة مع استمرار مخاطر التضخم","fr":"La Banque centrale d’Égypte maintient ses taux, avec des risques persistants sur l’inflation","es":"El Banco Central de Egipto mantiene los tipos ante los riesgos persistentes de inflación"},"description":{"tr":"Mısır Merkez Bankası 24 Eylül’de gecelik mevduat faizini yüzde 19, kredi faizini yüzde 20 ve ana işlem faizini yüzde 19,5’te tuttu. Ağustos yıllık manşet enflasyonu yüzde 14,5, çekirdek enflasyon yüzde 14,9 olarak verildi.","en":"On 24 September, the Central Bank of Egypt kept its overnight deposit rate at 19%, lending rate at 20% and main operation rate at 19.5%. August annual headline inflation was 14.5% and core inflation 14.9%.","ar":"أبقى البنك المركزي المصري في 24 سبتمبر سعر الإيداع لليلة واحدة عند 19% والإقراض عند 20% والعملية الرئيسية عند 19.5%. وبلغ التضخم السنوي العام في أغسطس 14.5% والأساسي 14.9%.","fr":"Le 24 septembre, la Banque centrale d’Égypte a maintenu le taux de dépôt au jour le jour à 19 %, celui du prêt à 20 % et le taux de l’opération principale à 19,5 %. L’inflation annuelle d’août était de 14,5 % en global et 14,9 % en sous-jacent.","es":"El 24 de septiembre, el Banco Central de Egipto mantuvo el depósito a un día en 19%, el préstamo en 20% y la operación principal en 19,5%. La inflación anual de agosto fue del 14,5% general y del 14,9% subyacente."},"methodology":{"tr":"Tarih, Merkez Bankasının basın açıklaması tarihidir. Faizler karar günü geçerli politika oranlarıdır; enflasyon ve büyüme verilerinin referans dönemleri metinde ayrıca belirtilir.","en":"The date is the central bank press-release date. Rates are policy settings on the decision date; reference periods for inflation and growth figures are stated separately in the text.","ar":"التاريخ هو تاريخ بيان البنك المركزي. وتمثل أسعار الفائدة مستويات السياسة يوم القرار؛ أما فترات مرجع التضخم والنمو فترد منفصلة في النص.","fr":"La date est celle du communiqué de la banque centrale. Les taux sont ceux en vigueur au jour de la décision ; les périodes de référence des indicateurs sont précisées séparément.","es":"La fecha es la del comunicado del banco central. Los tipos son los vigentes el día de la decisión; los periodos de referencia de los indicadores se indican aparte."},"sourceUrls":["https://www.cbe.org.eg/en/news-publications/news/2026/09/24/15/38/mpc-press-release-24-september-2026"],"updatedAt":"2026-10-10T12:05:31Z","items":[{"date":"2026-09-24","label":{"tr":"Mısır Merkez Bankası faiz oranlarını sabit tuttu; enflasyon görünümünde riskler sürüyor","en":"Egypt’s central bank holds rates as inflation outlook remains exposed to risks","ar":"البنك المركزي المصري يثبت أسعار الفائدة مع استمرار مخاطر التضخم","fr":"La Banque centrale d’Égypte maintient ses taux, avec des risques persistants sur l’inflation","es":"El Banco Central de Egipto mantiene los tipos ante los riesgos persistentes de inflación"},"description":{"tr":"Mısır Merkez Bankası 24 Eylül’de gecelik mevduat faizini yüzde 19, kredi faizini yüzde 20 ve ana işlem faizini yüzde 19,5’te tuttu. Ağustos yıllık manşet enflasyonu yüzde 14,5, çekirdek enflasyon yüzde 14,9 olarak verildi.","en":"On 24 September, the Central Bank of Egypt kept its overnight deposit rate at 19%, lending rate at 20% and main operation rate at 19.5%. August annual headline inflation was 14.5% and core inflation 14.9%.","ar":"أبقى البنك المركزي المصري في 24 سبتمبر سعر الإيداع لليلة واحدة عند 19% والإقراض عند 20% والعملية الرئيسية عند 19.5%. وبلغ التضخم السنوي العام في أغسطس 14.5% والأساسي 14.9%.","fr":"Le 24 septembre, la Banque centrale d’Égypte a maintenu le taux de dépôt au jour le jour à 19 %, celui du prêt à 20 % et le taux de l’opération principale à 19,5 %. L’inflation annuelle d’août était de 14,5 % en global et 14,9 % en sous-jacent.","es":"El 24 de septiembre, el Banco Central de Egipto mantuvo el depósito a un día en 19%, el préstamo en 20% y la operación principal en 19,5%. La inflación anual de agosto fue del 14,5% general y del 14,9% subyacente."},"status":"occurred"}]},{"id":"policy-rates","type":"metrics","title":{"tr":"24 Eylül politika faizleri","en":"Policy rates on 24 September","ar":"أسعار السياسة في 24 سبتمبر","fr":"Taux directeurs au 24 septembre","es":"Tipos oficiales del 24 de septiembre"},"description":{"tr":"Aynı karar günündeki dört ayrı politika oranı.","en":"Four distinct policy settings on the same decision date.","ar":"أربعة أسعار سياسة منفصلة في يوم القرار نفسه.","fr":"Quatre taux distincts au même jour de décision.","es":"Cuatro tipos distintos en la misma fecha de decisión."},"methodology":{"tr":"Karar günü politika faizleri ve ayrı aylara ait enflasyon oranları kaynakta olduğu gibi korunur. Faiz düzeyi, yıllık enflasyon ve aylık enflasyon birbirine eklenmez.","en":"Policy settings on the decision date and inflation rates for separate months retain their source definitions. Policy rates, annual inflation and monthly inflation are not added together.","ar":"حُفظت تعريفات أسعار السياسة يوم القرار ومعدلات التضخم للأشهر المختلفة كما وردت في المصدر. ولا تُجمع أسعار الفائدة والتضخم السنوي والتضخم الشهري معاً.","fr":"Les taux au jour de la décision et les taux d’inflation de chaque mois conservent les définitions de la source. Les taux directeurs et les variations annuelles et mensuelles ne sont pas additionnés.","es":"Los tipos en la fecha de la decisión y las tasas de inflación de cada mes conservan las definiciones de la fuente. Los tipos de interés y las variaciones anuales y mensuales no se suman."},"sourceUrls":["https://www.cbe.org.eg/en/news-publications/news/2026/09/24/15/38/mpc-press-release-24-september-2026"],"updatedAt":"2026-10-10T12:05:31Z","items":[{"label":{"tr":"Gecelik mevduat faizi","en":"Overnight deposit rate","ar":"سعر الإيداع لليلة واحدة","fr":"Taux de dépôt au jour le jour","es":"Tipo de depósito a un día"},"value":19,"unit":"percent","period":"2026-09-24","basis":"observed","measure":{"id":"egypt-policy-deposit","unitCode":"percent","geography":"egypt","frequency":"daily","aggregation":"rate","periodRole":"reference-period"}},{"label":{"tr":"Gecelik kredi faizi","en":"Overnight lending rate","ar":"سعر الإقراض لليلة واحدة","fr":"Taux de prêt au jour le jour","es":"Tipo de préstamo a un día"},"value":20,"unit":"percent","period":"2026-09-24","basis":"observed","measure":{"id":"egypt-policy-lending","unitCode":"percent","geography":"egypt","frequency":"daily","aggregation":"rate","periodRole":"reference-period"}},{"label":{"tr":"Ana işlem faizi","en":"Main operation rate","ar":"سعر العملية الرئيسية","fr":"Taux de l’opération principale","es":"Tipo de la operación principal"},"value":19.5,"unit":"percent","period":"2026-09-24","basis":"observed","measure":{"id":"egypt-policy-main-operation","unitCode":"percent","geography":"egypt","frequency":"daily","aggregation":"rate","periodRole":"reference-period"}},{"label":{"tr":"İskonto faizi","en":"Discount rate","ar":"سعر الخصم","fr":"Taux d’escompte","es":"Tipo de descuento"},"value":19.5,"unit":"percent","period":"2026-09-24","basis":"observed","measure":{"id":"egypt-policy-discount","unitCode":"percent","geography":"egypt","frequency":"daily","aggregation":"rate","periodRole":"reference-period"}}]},{"id":"annual-inflation","type":"metrics","title":{"tr":"Ağustos yıllık enflasyonu","en":"August annual inflation","ar":"التضخم السنوي في أغسطس","fr":"Inflation annuelle d’août","es":"Inflación anual de agosto"},"description":{"tr":"Ağustos 2026 ile Ağustos 2025 fiyat düzeylerinin karşılaştırılması.","en":"Price levels in August 2026 compared with August 2025.","ar":"مقارنة مستويات الأسعار في أغسطس 2026 بأغسطس 2025.","fr":"Niveaux des prix d’août 2026 comparés à août 2025.","es":"Niveles de precios de agosto de 2026 comparados con agosto de 2025."},"methodology":{"tr":"Karar günü politika faizleri ve ayrı aylara ait enflasyon oranları kaynakta olduğu gibi korunur. Faiz düzeyi, yıllık enflasyon ve aylık enflasyon birbirine eklenmez.","en":"Policy settings on the decision date and inflation rates for separate months retain their source definitions. Policy rates, annual inflation and monthly inflation are not added together.","ar":"حُفظت تعريفات أسعار السياسة يوم القرار ومعدلات التضخم للأشهر المختلفة كما وردت في المصدر. ولا تُجمع أسعار الفائدة والتضخم السنوي والتضخم الشهري معاً.","fr":"Les taux au jour de la décision et les taux d’inflation de chaque mois conservent les définitions de la source. Les taux directeurs et les variations annuelles et mensuelles ne sont pas additionnés.","es":"Los tipos en la fecha de la decisión y las tasas de inflación de cada mes conservan las definiciones de la fuente. Los tipos de interés y las variaciones anuales y mensuales no se suman."},"sourceUrls":["https://www.cbe.org.eg/en/news-publications/news/2026/09/24/15/38/mpc-press-release-24-september-2026"],"updatedAt":"2026-10-10T12:05:31Z","items":[{"label":{"tr":"Manşet enflasyon","en":"Headline inflation","ar":"التضخم العام","fr":"Inflation globale","es":"Inflación general"},"value":14.5,"unit":"percent","period":"2026-08","basis":"observed","measure":{"id":"egypt-headline-inflation-yoy","unitCode":"percent","geography":"egypt","frequency":"monthly","aggregation":"rate","periodRole":"reference-period"}},{"label":{"tr":"Çekirdek enflasyon","en":"Core inflation","ar":"التضخم الأساسي","fr":"Inflation sous-jacente","es":"Inflación subyacente"},"value":14.9,"unit":"percent","period":"2026-08","basis":"observed","measure":{"id":"egypt-core-inflation-yoy","unitCode":"percent","geography":"egypt","frequency":"monthly","aggregation":"rate","periodRole":"reference-period"}}]},{"id":"monthly-headline-inflation","type":"series","title":{"tr":"Aylık manşet enflasyon: Haziran–Ağustos","en":"Monthly headline inflation: June–August","ar":"التضخم العام الشهري: يونيو–أغسطس","fr":"Inflation globale mensuelle : juin–août","es":"Inflación general mensual: junio–agosto"},"description":{"tr":"Her nokta bir önceki aya göre değişimdir; yıllık oran değildir. Sıfır, Temmuz’da fiyat endeksinin değişmediği anlamına gelir.","en":"Each point is a change from the preceding month, not an annual rate. Zero means the July price index was unchanged.","ar":"كل نقطة تغير عن الشهر السابق، وليست معدلاً سنوياً. ويعني الصفر أن مؤشر يوليو لم يتغير.","fr":"Chaque point est une variation par rapport au mois précédent, non un taux annuel. Zéro signifie que l’indice de juillet était inchangé.","es":"Cada punto es una variación frente al mes anterior, no una tasa anual. El cero significa que el índice de julio no cambió."},"methodology":{"tr":"Karar günü politika faizleri ve ayrı aylara ait enflasyon oranları kaynakta olduğu gibi korunur. Faiz düzeyi, yıllık enflasyon ve aylık enflasyon birbirine eklenmez.","en":"Policy settings on the decision date and inflation rates for separate months retain their source definitions. Policy rates, annual inflation and monthly inflation are not added together.","ar":"حُفظت تعريفات أسعار السياسة يوم القرار ومعدلات التضخم للأشهر المختلفة كما وردت في المصدر. ولا تُجمع أسعار الفائدة والتضخم السنوي والتضخم الشهري معاً.","fr":"Les taux au jour de la décision et les taux d’inflation de chaque mois conservent les définitions de la source. Les taux directeurs et les variations annuelles et mensuelles ne sont pas additionnés.","es":"Los tipos en la fecha de la decisión y las tasas de inflación de cada mes conservan las definiciones de la fuente. Los tipos de interés y las variaciones anuales y mensuales no se suman."},"sourceUrls":["https://www.cbe.org.eg/en/news-publications/news/2026/09/24/15/38/mpc-press-release-24-september-2026"],"updatedAt":"2026-10-10T12:05:31Z","unit":"percent","measure":{"id":"egypt-headline-inflation-mom","unitCode":"percent","geography":"egypt","frequency":"monthly","aggregation":"rate","periodRole":"reference-period"},"points":[{"period":"2026-06","value":-0.4,"basis":"observed"},{"period":"2026-07","value":0,"basis":"observed"},{"period":"2026-08","value":0.1,"basis":"observed"}]}]},"data_compilations":[{"id":"mpc-decision","creator":{"@type":"Organization","@id":"https://haberpaper.com/#organization","name":"Haber Paper","url":"https://haberpaper.com/"},"license":{"@type":"CreativeWork","@id":"https://haberpaper.com/en/data-terms/v1#license","name":"Haber Paper Original Data Compilation License 1.0","url":"https://haberpaper.com/en/data-terms/v1"},"rights_scope":"Haber Paper original data arrangement, labels and methodology notes only; underlying source rights and permissions remain separate.","source_license_url":null},{"id":"policy-rates","creator":{"@type":"Organization","@id":"https://haberpaper.com/#organization","name":"Haber Paper","url":"https://haberpaper.com/"},"license":{"@type":"CreativeWork","@id":"https://haberpaper.com/en/data-terms/v1#license","name":"Haber Paper Original Data Compilation License 1.0","url":"https://haberpaper.com/en/data-terms/v1"},"rights_scope":"Haber Paper original data arrangement, labels and methodology notes only; underlying source rights and permissions remain separate.","source_license_url":null},{"id":"annual-inflation","creator":{"@type":"Organization","@id":"https://haberpaper.com/#organization","name":"Haber Paper","url":"https://haberpaper.com/"},"license":{"@type":"CreativeWork","@id":"https://haberpaper.com/en/data-terms/v1#license","name":"Haber Paper Original Data Compilation License 1.0","url":"https://haberpaper.com/en/data-terms/v1"},"rights_scope":"Haber Paper original data arrangement, labels and methodology notes only; underlying source rights and permissions remain separate.","source_license_url":null},{"id":"monthly-headline-inflation","creator":{"@type":"Organization","@id":"https://haberpaper.com/#organization","name":"Haber Paper","url":"https://haberpaper.com/"},"license":{"@type":"CreativeWork","@id":"https://haberpaper.com/en/data-terms/v1#license","name":"Haber Paper Original Data Compilation License 1.0","url":"https://haberpaper.com/en/data-terms/v1"},"rights_scope":"Haber Paper original data arrangement, labels and methodology notes only; underlying source rights and permissions remain separate.","source_license_url":null}],"data_downloads":[{"id":"mpc-decision","formats":{"json":"https://haberpaper.com/api/v1/articles/egypt-cbe-holds-policy-rates-september-2026/data/mpc-decision?lang=en&format=json","csv":"https://haberpaper.com/api/v1/articles/egypt-cbe-holds-policy-rates-september-2026/data/mpc-decision?lang=en&format=csv"}},{"id":"policy-rates","formats":{"json":"https://haberpaper.com/api/v1/articles/egypt-cbe-holds-policy-rates-september-2026/data/policy-rates?lang=en&format=json","csv":"https://haberpaper.com/api/v1/articles/egypt-cbe-holds-policy-rates-september-2026/data/policy-rates?lang=en&format=csv"}},{"id":"annual-inflation","formats":{"json":"https://haberpaper.com/api/v1/articles/egypt-cbe-holds-policy-rates-september-2026/data/annual-inflation?lang=en&format=json","csv":"https://haberpaper.com/api/v1/articles/egypt-cbe-holds-policy-rates-september-2026/data/annual-inflation?lang=en&format=csv"}},{"id":"monthly-headline-inflation","formats":{"json":"https://haberpaper.com/api/v1/articles/egypt-cbe-holds-policy-rates-september-2026/data/monthly-headline-inflation?lang=en&format=json","csv":"https://haberpaper.com/api/v1/articles/egypt-cbe-holds-policy-rates-september-2026/data/monthly-headline-inflation?lang=en&format=csv"}}],"content":{"paragraphs":["The Monetary Policy Committee of the Central Bank of Egypt left its key rates unchanged on 24 September. The overnight deposit rate remained 19%, the overnight lending rate 20%, and both the main operation and discount rates 19.5%. The bank said its decision reflected recent inflation and forecasts, together with the balance of risks. This was a decision to maintain the existing restrictive stance, not a rate cut or increase. Policy rates influence borrowing, saving and financing costs, although transmission can take time.","The committee reported annual headline inflation of 14.5% in August 2026 and core inflation of 14.9%. Monthly headline inflation was minus 0.4% in June, 0.0% in July and 0.1% in August. Annual and monthly rates measure different things: the annual figure compares the price level with the same month a year earlier, while the monthly series tracks shorter-term movement. Three low monthly readings do not by themselves mean the overall price level has fallen.","The bank said a decline in food inflation offset increases in electricity tariffs and housing rents. Global energy and agricultural commodity prices had risen amid regional tensions and supply concerns. International commodity costs, domestic monetary conditions and fiscal measures therefore remain relevant to the inflation outlook. The committee lowered its forecast relative to the August meeting and projected headline inflation to stabilize on average in the third quarter of 2026, then gradually converge toward its 7% target, with a margin of plus or minus 2 percentage points, during the second half of 2027.","On economic activity, growth eased to 4.7% in the second quarter of 2026 from 5.0% in the first quarter. The bank put average real growth at 5.1% for FY2025/26 and expected it to remain broadly near that level in FY2026/27. It said output remained below potential and was expected to approach full capacity gradually by the second half of 2027. These are the central bank’s assessment and projections; the reported outturn and future forecast should remain distinct.","The committee highlighted upside risks from renewed regional hostilities, a larger-than-expected pass-through from fiscal consolidation, higher international food prices and persistently elevated global energy costs. Holding rates steady was presented as maintaining sufficient monetary restraint against those risks. The bank said future decisions would reflect incoming data and the inflation outlook. The announcement does not guarantee a rate path; for businesses and households, the next assessments of inflation expectations, commodity costs and demand conditions will be important signals."],"key_points":[],"sections":[]},"text":"On 24 September, the Central Bank of Egypt kept its overnight deposit rate at 19%, lending rate at 20% and main operation rate at 19.5%. August annual headline inflation was 14.5% and core inflation 14.9%.\n\nThe Monetary Policy Committee of the Central Bank of Egypt left its key rates unchanged on 24 September. The overnight deposit rate remained 19%, the overnight lending rate 20%, and both the main operation and discount rates 19.5%. The bank said its decision reflected recent inflation and forecasts, together with the balance of risks. This was a decision to maintain the existing restrictive stance, not a rate cut or increase. Policy rates influence borrowing, saving and financing costs, although transmission can take time.\n\nThe committee reported annual headline inflation of 14.5% in August 2026 and core inflation of 14.9%. Monthly headline inflation was minus 0.4% in June, 0.0% in July and 0.1% in August. Annual and monthly rates measure different things: the annual figure compares the price level with the same month a year earlier, while the monthly series tracks shorter-term movement. Three low monthly readings do not by themselves mean the overall price level has fallen.\n\nThe bank said a decline in food inflation offset increases in electricity tariffs and housing rents. Global energy and agricultural commodity prices had risen amid regional tensions and supply concerns. International commodity costs, domestic monetary conditions and fiscal measures therefore remain relevant to the inflation outlook. The committee lowered its forecast relative to the August meeting and projected headline inflation to stabilize on average in the third quarter of 2026, then gradually converge toward its 7% target, with a margin of plus or minus 2 percentage points, during the second half of 2027.\n\nOn economic activity, growth eased to 4.7% in the second quarter of 2026 from 5.0% in the first quarter. The bank put average real growth at 5.1% for FY2025/26 and expected it to remain broadly near that level in FY2026/27. It said output remained below potential and was expected to approach full capacity gradually by the second half of 2027. These are the central bank’s assessment and projections; the reported outturn and future forecast should remain distinct.\n\nThe committee highlighted upside risks from renewed regional hostilities, a larger-than-expected pass-through from fiscal consolidation, higher international food prices and persistently elevated global energy costs. Holding rates steady was presented as maintaining sufficient monetary restraint against those risks. The bank said future decisions would reflect incoming data and the inflation outlook. The announcement does not guarantee a rate path; for businesses and households, the next assessments of inflation expectations, commodity costs and demand conditions will be important signals.","corrections":[],"editorial_illustration":{"kind":"symbolic-editorial-illustration","documentary":false,"scope":"section","asset_id":"finance","url":"https://haberpaper.com/assets/illustrations/finance-1536.webp","width":1536,"height":1024,"alt":"Symbolic financial system with a vault door, columns and unmarked coins.","language":"en"},"section_illustration":{"kind":"symbolic-editorial-illustration","documentary":false,"scope":"section","asset_id":"finance","url":"https://haberpaper.com/assets/illustrations/finance-1536.webp","width":1536,"height":1024,"alt":"Symbolic financial system with a vault door, columns and unmarked coins.","language":"en"}}}