Tomorrow, Sunday, September 3, 2023, the Central Bank of Egypt will offer treasury bills worth EGP 40 billion to two bids, on behalf of the Ministry of Finance, to provide the necessary liquidity to implement the fiscal year budget by borrowing from banks.
The day after tomorrow, Sunday, on behalf of the Ministry of Finance, the Central Bank will offer two bids with different deadlines, the first at a value of 23 billion pounds for a period of 91 days, and the second at a value of 17 billion pounds for a period of 273 days.
The first offering of EGP 23 billion is due on 5-12-2023, while the offering of EGP 17 billion is due on 4-6-2024.
The Monetary Policy Committee of the Central Bank of Egypt meets on September 21, 2023, to decide the fate of the interest rate, as that meeting is the sixth for the Central Bank of Egypt during the current year, and the meetings of the Monetary Policy Committee are scheduled to reach 8 meetings during 2023, as two meetings of the Monetary Policy Committee remain. The Central Bank of Egypt on November 2, and concludes the year with a meeting on December 21, 2023.
The Central Bank of Egypt, during its last meeting, raised the interest rate by 1% to avoid inflationary pressures and control inflation expectations.