K

kfm.co.ug

@kfm Fri, 27 Dec 2024 10:36:15

Egypt central bank keeps overnight interest rates steady

By REUTERS Egypt’s central bank kept its overnight interest rates unchanged on Thursday, as expected, saying that while inflation was set to decelerate sharply in early 2025 it nonetheless remained high. The bank’s monetary policy committee kept the lending rate at 28.25% and the deposit rate at 27.25%, it said in a statement. The unanimous forecast in a Reuters poll of 12 analysts was that the committee would keep rates steady. Egypt’s headline inflation dipped in November to 25.5%, its lowest since December 2022, and has been trending downwards from a record high of 38.0% in September 2023. “Inflation is projected to ease substantially in 2025, as the cumulative impact of monetary policy tightening and favorable base effect materializes, with […] The post Egypt central bank keeps overnight interest rates steady first appeared on 93.3 KFM.

read more

Other Headlines