Central Banks

Egypt Cuts Rates More Than Expected as Inflation Slows

A pedestrian passes a furniture store in the Nasr City district of Cairo. Consumer price-growth slowed for a second month as Egypt cut interest rates. — A pedestrian passes a furniture store in the Nasr City district of Cairo. Consumer price-growth slowed for a second month as Egypt cut interest rates.
Photographer: Islam Safwat/Bloomberg

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By Mirette Magdy and Michael Gunn

August 28, 2025 at 3:47 PM UTC

Updated on

August 28, 2025 at 4:07 PM UTC

Egypt cut interest rates for the first time since May, seeking to spur investment key to an economic revival while easing some of the Middle East’s highest debt-servicing costs.

The central bank reduced the benchmark deposit rate by 200 basis points to 22%, the Monetary Policy Committee said Thursday. The lending rate was lowered by the same amount to 23%.