by: Céline Dominique Nadler | May 23, 2024
The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) meets right this moment to resolve on key rates of interest for the final time within the 2023/2024 fiscal 12 months, in gentle of annual inflation charges which have started to say no respectively in March and April to 33.3% and 32.5% from 35.7% recorded in February, in response to findings by the Central Agency for Mobilization and Public Statistics (Capmas).
At its final assembly, held in March, the CBE elevated key rates of interest by 6% (600 bps), bringing the whole will increase utilized for the reason that starting of the 12 months to eight% (800 bps) and 19 % (1900 bps) YTD. As a end result, the CBE set an inflation goal of seven% (±2%) by the fourth quarter of 2024 and 5% (±2%) by the fourth quarter of 2026.
For its half, HC Securities & Investment expects the CBE to maintain the present key rates of interest unchanged.
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