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.

Published 2 months ago · Cairo, Egypt

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Reuters

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

The Central Bank of Egypt (CBE) raised its overnight interest rates by 200 basis points (bps) on Thursday following a meeting of its Monetary Policy Committee (MPC), saying it aimed to bring high inflation into check.

2 months ago·United Kingdom

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Associated Press News

Egypt raises interest rates to curb surging inflation

Egypt's Central Bank says it has raised interest rates as the embattled Middle Eastern country continues to battle surging inflation and a depreciating currency. The bank says the most basic

2 months ago·United States

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abc News

Egypt raises interest rates to curb surging inflation

Egypt's Central Bank says it has raised interest rates as the embattled Middle Eastern country continues to battle surging inflation and a depreciating currency

2 months ago·United States

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The Star Kuala Lumpur

Egypt hikes interest rates by 2 pct to contain inflation

CAIRO, March 30 (Xinhua) -- Egypt's Monetary Policy Committee (MPC) decided to raise the interest rates of the Central Bank of Egypt (CBE) by 200 basis points in a new bid to contain high inflation, the CBE said on Thursday. Read full story

2 months ago·Malaysia

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