{"id":664143,"date":"2025-04-23T00:00:00","date_gmt":"2025-04-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/04\/23\/local-banks-rush-to-cut-rates-on-savings-following-interest-rate-cut\/"},"modified":"2025-04-23T00:00:00","modified_gmt":"2025-04-23T00:00:00","slug":"local-banks-rush-to-cut-rates-on-savings-following-interest-rate-cut","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/04\/23\/local-banks-rush-to-cut-rates-on-savings-following-interest-rate-cut\/","title":{"rendered":"Local banks rush to cut rates on savings following interest rate cut"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The nation\u2019s talking heads are picking up on banks moving to cut rates on their saving<\/strong><strong> products <\/strong>as they react to a new lower interest rate environment after the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/030e8a7e-a0f6-48c5-bf6c-794c43555671\/cbe-cuts%253cmark%253e-rates%253c%2Fmark%253e-for-the-first-time-since-november-2020\" style=\"\" rel=\"noopener\">central bank cut rates<\/a> by 225 bps last Thursday. Leading the charge was Kelma Akhira\u2019s Lamees El Hadidi, who invited former Financial Regulatory Authority head Sherif Samy to call in to break it down for her viewers (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=ML7wZtqChw4\" style=\"\" rel=\"noopener\">watch, runtime: 4:22<\/a>). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cEach bank has different targets, but all eyes are on NBE and Banque Misr<\/strong>, since they control nearly half the market share,\u201d Samy said. Earlier in the day, the NBE cut rates on some of its high interest certificates by 225 bps. More banks are expected to follow suit \u2014 although some may opt to maintain higher yields to retain liquidity, banking expert Hany Abou El Fotouh recently told us.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The nation\u2019s talking heads are picking up on banks moving to cut rates on their saving products as they react to a new lower interest rate environment after the central bank cut rates by 225 bps last Thursday. Leading the charge was Kelma Akhira\u2019s Lamees El Hadidi, who invited former Financial Regulatory Authority head Sherif [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":664144,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7232],"tags":[204,104,72,272,349,106,724],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-664143","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-last-nights-talk-shows","tag-banking","tag-economy","tag-enterpriseam","tag-imf","tag-interest-rates","tag-last-nights-talk-shows","tag-monetary-policy","wpautop","entry"],"acf":{"mongo_id":"64d63c49-f5f7-4801-a984-db6bbcf80802","order":"10","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/4\/1457.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Local banks rush to cut rates on savings following interest rate cut","related_issue":[664126],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/4\/.f0495112-f479-4a00-853f-d52edde84d2b.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Local banks rush to cut rates on savings following interest rate cut - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/04\/23\/local-banks-rush-to-cut-rates-on-savings-following-interest-rate-cut\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Local banks rush to cut rates on savings following interest rate cut\" \/>\n<meta property=\"og:description\" content=\"The nation\u2019s talking heads are picking up on banks moving to cut rates on their saving products as they react to a new lower interest rate environment after the central bank cut rates by 225 bps last Thursday. 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The EGP strengthened to 16.31 against the greenback on Sunday compared to 16.38 on Thursday.\u2026","rel":"","context":"In &quot;Enterprise+: Last Night\u2019s Talk Shows&quot;","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":549600,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/22\/anticipation-ahead-of-mpc-meeting-gold-deposits-at-banks\/","url_meta":{"origin":664143,"position":1},"title":"Anticipation ahead of MPC meeting + gold deposits at banks?","author":"enterpriseam admin","date":"22 September 2022","format":false,"excerpt":"It was something of a slow night on the airwaves last night, with talking heads focusing on the Federal Reserve\u2019s latest interest rate hike and how it would impact our central bank\u2019s decision when its monetary policy committee meets today to decide on interest rates.Some want the CBE to keep\u2026","rel":"","context":"In &quot;LAST NIGHT\u2019S TALK SHOWS&quot;","block_context":{"text":"LAST NIGHT\u2019S TALK SHOWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":549635,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/25\/last-nights-talk-shows-all-about-the-cbe\/","url_meta":{"origin":664143,"position":2},"title":"Last Night\u2019s Talk Shows: All about the CBE","author":"enterpriseam admin","date":"25 September 2022","format":false,"excerpt":"The Central Bank of Egypt\u2019s decision to leave interest rates unchanged dominated the airwaves over the weekend. We have the full story in this morning\u2019s news well, above.Who\u2019s celebrating? Unchanged rates is good news for the state budget, seeing as every rate hike comes bearing massive costs \u2014 a 100\u2026","rel":"","context":"In &quot;LAST NIGHT\u2019S TALK SHOWS&quot;","block_context":{"text":"LAST NIGHT\u2019S TALK SHOWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":629883,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/03\/private-sector-banks-begin-lowering-interest-rates-in-response-to-cbes-latest-rate-cut\/","url_meta":{"origin":664143,"position":3},"title":"Private sector banks begin lowering interest rates in response to CBE\u2019s latest rate cut","author":"enterpriseam admin","date":"3 April 2018","format":false,"excerpt":"Private sector banks have begun lowering rates and scrapping high-yielding CDs in response to the CBE\u2019s decision last Thursday to slash key interest rates by 100 bps, according to Al Mal. CIB slashed rates on its savings accounts and certificates by 100-125 bps and QNB Al Ahli-Egypt also docked 50\u2026","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":570049,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/17\/covid-19-air-travel-suspension-and-cbe-interest-rate-cut-reviewed-on-talk-shows\/","url_meta":{"origin":664143,"position":4},"title":"Covid-19, air travel suspension and CBE interest rate cut reviewed on talk shows","author":"enterpriseam admin","date":"17 March 2020","format":false,"excerpt":"CBE interest rate cut: Al Kahera Alaan\u2019s Lamees El Hadidi spoke by phone with Hany Genena, head of research at investment bank Prime Holding, to discuss the Central Bank of Egypt\u2019s unprecedented decision to cut interest rates by 300 bps. He lauded the timing of the decision saying it will\u2026","rel":"","context":"In &quot;Enterprise+: Last Night\u2019s Talk Shows&quot;","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":578322,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/22\/todays-forecast-cold-with-a-high-chance-of-a-rate-hike\/","url_meta":{"origin":664143,"position":5},"title":"Today\u2019s forecast: Cold with a high chance of a rate hike","author":"enterpriseam admin","date":"22 December 2022","format":false,"excerpt":"It was an econ-heavy evening on the talk shows last night ahead of the central bank\u2019s policy meeting today and following several statements from the cabinet about the import backlog at the nation\u2019s ports and soaring food prices.What would a rate hike from the CBE mean? If the central bank\u2026","rel":"","context":"In &quot;LAST NIGHT\u2019S TALK SHOWS&quot;","block_context":{"text":"LAST NIGHT\u2019S TALK SHOWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/488.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/664143","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=664143"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/664143\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/664126"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/664144"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=664143"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=664143"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=664143"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=664143"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=664143"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}