The Central Bank of Egypt holds an interest rate meeting next Thursday

The Central Bank of Egypt will hold a meeting of the Monetary Policy Committee on Thursday, May 21, in a move that investors and savers alike are waiting for. Deposit and lending rates are expected to stabilize at their current levels of 19% and 20%, respectively. The savings certificates offered in the banking market vary between two basic types: fixed-yield certificates that maintain a fixed interest rate until maturity. Variable-yield certificates that are linked to the decisions of the Central Bank taken every month and a half. CIB is currently leading the competition by offering savings certificates with variable returns of up to 19.5% per year with a monthly disbursement period, in addition to another certificate with a return of 19.25% with a daily disbursement period. The bank also offers the daily “Everyday” certificate at the same rate. For their part, Ahli, Egypt and Cairo banks offer certificates with a return of 17.25% for a period of 3 years with A monthly return, while Banque du Caire offers an exceptional 18-month deposit with a 22% return to be disbursed at maturity, providing a unique opportunity to maximize returns. The terms of savings certificates extend from one year up to 7 years, with a variety of types of returns between fixed, variable and decreasing. The central bank uses the instrument of interest rates as a means of controlling inflation rates, raising them when prices rise and lowering them when inflation declines. The National Bank offers the gold certificate in dollars and euros for different periods, where the returns of the certificates in dollars are 4.75% for 3 years, 4.85% for 5 years, and4.90% for 7 years, with the possibility of borrowing against it in accordance with the applicable banking conditions.