Following the recent decision of the US Federal Reserve, the first meeting of the Monetary Policy Committee in Egypt is considered to be the first meeting today to raise prices. Emerging markets around the world, including Egypt, are expected to be under increasing pressure due to higher inflation rates and tightening monetary policy in the United States. A Reuters poll this week expects the central bank to raise interest rates by 50 basis points to 11.75% and lending by 25 basis points to 12.5%. The debt-to-debt ratio has been raised by 200 basis points to 11.75%. This is the second time the central bank has raised interest rates in 2022, as Egypt’s central bank raised interest rates by 100 basis points at an exceptional meeting on March 21.
Source: Egypt Today June 23, 2022 20:12 UTC