The Central Bank of Egypt's monetary policy committee left the overnight deposit rate at 19 percent and the overnight lending rate at 20 percent. The main operation rate and the discount rate stayed at 19.5 percent. The Egyptian Gazette reported the same four rates on a page dated 24 September.
Economics & Markets··Night
Four rates, none moved
The Central Bank of Egypt's monetary policy committee left the overnight deposit rate at 19 percent and the overnight lending rate at 20 percent. The main operation rate and the discount rate stayed at 19.5 percent. The decision is a hold across the corridor: deposit, lending, the main operation and the discount rate. The Egyptian Gazette reported that the overnight deposit rate remains at 19.00 percent and the overnight lending rate at 20.00 percent. The main operation rate and the discount rate stayed at 19.50 percent. The page is dated 24 September, and the statement is Thursday's.[1], [2]
All four rates were unchanged on 24 September
SEE News and the Egyptian Gazette name the same four rates. Deposit is 19 percent. Lending is 20 percent. The main operation is 19.5 percent. The discount rate is 19.5 percent. The date is 24 September. The corridor is unchanged. What the two pages do not give is a vote tally or a date for the next meeting. The hold is the news. The path after it is not in these accounts.[1], [2]
The committee is weighing inflation risks
SEE News frames the hold as the committee assessing inflation risks, and it stops at the four rates. It names no dissent and no calendar for the next move. Nothing further is dated. The 19 percent deposit rate is the rate in the headline and in the body. The Egyptian Gazette repeats the Thursday statement: 19.00 percent on deposits, 20.00 percent on lending, 19.50 percent on the main operation and on the discount rate. The extra precision is the two decimal places, not a different decision. Both pages describe one hold. The hold stands.[1], [2]
