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Egypt central bank forecast to raise interest rates by 150 bps

The central bank raised rates by a larger-than-expected 300 bps at its last meeting on Dec. 22 and by 200 bps at a surprise meeting on Oct. 27.
01.02.23 | Source: Reuters

The Central Bank of Egypt (CBE) is expected to hike its overnight interest rates by 150 basis points on Thursday as it keeps battling inflation after a series of currency devaluations, a Reuters poll showed on Monday.


The median forecast in a poll of 13 analysts is for the bank to increase its deposit rate to 17.75% and its lending rate to 18.75% at its regular monetary policy committee (MPC) meeting.

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