Banque Misr decided on Monday to raise the interest rates on all customers deposits by 1%, and raise the yield on savings accounts by 0.75%, following the decision by the Central Bank of Egypt (CBE) on Thursday to increase interest rates by 100bps. According to an official in Banque Misr, the interest rate on deposits in the bank surged to 8.375% for monthly deposits, 8.625% for quarterly deposits, 9.375% for semi-annual deposits, 9.875% for one- and two-year deposits, and 10.625% for deposits with three-, five- or seven-year terms. The source added that these prices apply to the lowest segment of the bank deposits, which range between EGP 1 and EGP500,000. The source said yields on savings accounts picked up to 9.25% for annual yield accounts, 9.125% for semi-annual accounts, 9% for quarterly yields, and 8.75% for monthly yields. National Bank of Egypt (NBE) also raised interest rates 1% on saving accounts on all maturities and 0.75% on deposits on Sunday. Three-year CD was left unchanged at 12.5%. Private banks await action from state banks and an increase on the revenues of treasury bills and bonds issued by the government before taking any action. (The Daily News Egypt)