24.09.202618:46:14UTC+00Egypt Holds Rate for Sixth Straight Meeting

The Central Bank of Egypt left its key interest rate unchanged at 19% at its September 2026 meeting, in line with market expectations, as inflation remains elevated and regional as well as energy-related shocks persist. This was the sixth consecutive meeting at which rates were kept on hold.

The Bank noted that the global outlook remains highly uncertain, citing ongoing geopolitical tensions, tighter global financial conditions, and renewed supply chain disruptions. Domestically, economic activity continued to slow, weighed down by regional tensions, and the projected output gap indicates only limited demand-driven inflationary pressures in the near term.

Annual headline inflation edged down slightly, while core inflation remained broadly stable. The Central Bank revised its inflation forecast lower but emphasized that risks are still skewed to the upside amid renewed regional hostilities. It added that the current degree of monetary policy restrictiveness should help contain these risks and support the expected disinflation path.