# The impact of Egypt’s rate hike - Egyptian Gazette

> Egypt’s central bank raised its overnight deposit rate by 100 basis points to 20% on October 29, after five consecutive holds. The move followed a sharp fall in the pound and rising inflation concerns; a Finance Ministry official estimated the higher rates could add about EGP 150 billion to the annual interest bill.

- Date: 2026-11-08 · published 2026-11-08T06:11:59.224Z
- Category: macro · region Egypt · magnitude medium
- Page: https://feedsoft.ai/events/87079-the-impact-of-egypt-s-rate-hike-egyptian-gazette
- Commodities: [Egyptian Pound (EGP per USD)](https://feedsoft.ai/c/USDEGP.md)

## Why it matters

Higher rates may support the pound by improving returns on local assets, potentially limiting the local-currency cost of imported feed. However, the larger government interest burden could constrain public finances and add pressure elsewhere in the economy.

## Read by commodity

- USDEGP: bearish ▼

## Sources

- egyptian-gazette.com: https://egyptian-gazette.com/business/the-impact-of-egypts-rate-hike/

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