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Published 1 year ago

Egypt's cenbank raises interest rates by 200 bps to tame inflation

Summary by Ground News
The bank set the lending rate at 19.25% and the deposit rate at 18.25%. The median forecast in a Reuters poll of 15 analysts on Monday was for the bank to increase rates by 200 bps. Seven of the analysts expected an increase of 300 bps."The MPC stresses that achieving a tight monetary stance is a necessary condition to attain the CBE's upcoming inflation targets," it said.

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