# Egypt central bank raises interest rates to 20%

> The Central Bank of Egypt raised its key interest rates by one percentage point on October 29, lifting the overnight deposit rate to 20%. It was the first rate rise since March 2024 and was largely unexpected by analysts polled. The move followed a weakening pound, which passed 56 per dollar, and rising energy costs.

- Date: 2026-11-02 · published 2026-11-03T00:43:41.993Z
- Category: macro · region Egypt · magnitude low
- Page: https://feedsoft.ai/events/76764-egypt-central-bank-raises-interest-rates-to-20
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Tighter Egyptian monetary policy aims to curb inflation, which matters for Egypt, one of the largest wheat and feed importers. Higher rates and a weaker pound raise the local cost of imported feed grains and meal, which may dampen buying power.

## Read by commodity

- DXY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-01-30 | [BoE Expected to Hike Rates Amid Central Bank Meetings](https://feedsoft.ai/events/38017-boe-expected-to-hike-rates-amid-central-bank-meetings.md) | +0.5% | +2.1% |
| DXY | 2017-11-02 | [Bank Rate increased to 0.50% - November 2017 \| Bank of England – the UK's central bank](https://feedsoft.ai/events/68228-bank-rate-increased-to-0-50-november-2017-bank-of-england-the-uk-s-central-bank.md) | -0.1% | -1.5% |
| DXY | 2017-12-14 | [Bank of England unanimously votes to hold interest rates, shifting focus to inflation](https://feedsoft.ai/events/67720-bank-of-england-unanimously-votes-to-hold-interest-rates-shifting-focus-to.md) | -0.4% | -2.1% |
| DXY | 2023-12-01 | [Market pushback on central banks' rates view just got louder](https://feedsoft.ai/events/32928-market-pushback-on-central-banks-rates-view-just-got-louder.md) | +0.3% | -1.5% |
| DXY | 2026-03-31 | [Should US interest rates be even higher? This rule says yes](https://feedsoft.ai/events/20354-should-us-interest-rates-be-even-higher-this-rule-says-yes.md) | -0.7% | -2.3% |

## Sources

- newsheir.com: https://newsheir.com/articles/egypt-surprises-markets-with-first-interest-rate-rise-since-2024

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.