The Central Bank of Egypt (CBE, البنك المركزي المصري) is Egypt's apex monetary authority. It sets the overnight lending and deposit corridor rates — the benchmark that drives all bank deposit rates in Egypt. It also regulates and supervises all licensed banks, manages foreign exchange reserves, and conducts the weekly T-bill auctions through which the government borrows short-term.
The CBE's Monetary Policy Committee (MPC) meets 8 times per year to decide on interest rates. Its decisions directly affect CD rates, savings account rates, and T-bill yields. When the CBE raises the corridor rate, banks quickly raise their CD rates to attract deposits; when it cuts, rates fall.