- The Central Bank of Egypt obtained liquidity worth 655.6 billion pounds from 31 banks in the third open market bids after the Central Bank’s decision to amend the policies for accepting bids with an interest rate of 27.75%.
- The Central Bank obtained liquidity worth 667.250 billion pounds in the second open market bids last week, in addition to about 460.8 billion pounds in the first bids.
- The Central Bank recently issued new instructions regarding the rules governing the main process of linking deposits (Main Operation) for open market operations that the Central Bank conducted by holding a fixed-rate auction on a weekly basis, where the size of the operation that the Central Bank will conduct is announced. Bids are accepted using the allocation method, which is determined based on the ratio of the bid submitted by the bank to the total bids submitted, to which the price of the main transaction is applied.
- The Central Bank confirmed that, in light of its keenness to follow the best international practices regarding managing surplus liquidity in the banking system and improving the impact of monetary policy decisions, it was decided to change the method of accepting bids for the main process of linking its deposits (Main Operation) from the allocation method to the method of accepting all submitted bids. Full Allotment), starting today, Tuesday, April 23, 2024, provided that the results of each linking process will be published on the website of the Central Bank of Egypt.
- The Central Bank will continue to manage liquidity in a way that achieves balance to ensure its consistency with its operational goal, which is to maintain the weighted average return rate for one night in the interbank market around the operation price, which is the main one, which is the average corridor price.
