HSBC report expects significant rise in interest rates in Egypt
A report issued by HSBC expects the Central Bank of Egypt to raise the interest rate by 3 percent at the Monetary Policy Committee meeting on Thursday, March 30, 2023.
The Monetary Policy Committee keept the interest rates as they were at its first meeting in 2023, in February.
There are three main dimensions in increasing pressure on the exchange rate of the pound against the US dollar, the report stated.
The central bank kept interest rates at its last meeting unchanged, after raising it 8 percent, over four times in 2022.