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The Monetary Policy Committee (MPC) of the Central Bank of SA738 Grade B steel Egypt (CBE) has lowered the overnight interest rate by 225 basis points (2.25%), marking the first rate cut in five years. The current loan interest rate is 26%, and the deposit interest rate is 25%. Prior to this, the inflation rate had significantly decreased, with the overall inflation rate and core inflation rate dropping to 13.6% and 9.4% respectively in March, the SA738 Grade B steel lowest levels in three years. The purpose of interest rate cuts is to stabilize inflation expectations and promote sustained economic growth. The Egyptian economy grew by over 4.3% in the first quarter of 2025, marking the fourth consecutive quarter of economic growth in Egypt. It is reported that this policy shift will boost domestic demand for rebar. In February, the consumption of rebar in SA738 Grade B steel Egypt increased by 22% compared to January, with a year-on-year growth of 14%.
