News Formal

Egypt's central bank expected to raise rates as inflation weighs: Reuters poll - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

  • 📰 SABCNews
  • ⏱ Reading Time:
  • 18 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 51%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

Egypt’s central bank will raise its overnight deposit rate by 50 basis points (bps) on Thursday as it seeks to dampen surging inflation, a Reuters poll forecast.

Egypt's Central Bank headquarters are seen in downtown Cairo, Egypt, March 22, 2022.

The bank raised rates by 200 bps at its last meeting on May 19, saying it was seeking to contain inflation expectations after prices surged by their quickest in three years. “In a context of hawkish Fed policy and pressure on Egyptianexternal liquidity, a significant rise in CBE rate is needed for a recovery in portfolio inflows,” Devaux said.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Central Banks are collapsing .. Worldwide 💥👏🏻💥 Bank runs in China - collapse of EverGrande! The People Are The REAL NEWS! MSM paid propagandist Tell-Lie-Vision is toast! Boom! 💥👏🏻🐍

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 37. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines