Egypt: Central Bank hikes interest rates to limit inflation ...Kuwait

CAIRO (AP) — Egypt's central bank raised interest rates Thursday as the country continues to battle double-digit inflation amid a sharp currency devaluation. In a statement, the bank's monetary policy committee announced that the most basic lending rate, the overnight deposit rate, was increased from 13.25% to 16.25%. Egypt's economy has been hit hard by the coronavirus pandemic, years of government austerity measures, and fallout fromf the war in Ukraine. Egypt is the world’s largest wheat importer, and most of its imports come from Russia and Ukraine. Earlier this month, the International Monet

Hence then, the article about egypt central bank hikes interest rates to limit inflation was published today ( Friday 23/12/2022 - 02:32 AM ) and is available on The New Arab ( Kuwait ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.

Read More Details
Finally We wish PressBee provided you with enough information of ( Egypt: Central Bank hikes interest rates to limit inflation )

Also on site :

• US trade with Southeast Asia and Taiwan surging despite Trump tariffs
• Will Trent's Erika Christensen On The Significance Of Angie Having A Girl, Her Engagement To Seth, And What Changes (And Doesn't) With Will
• Remember 2016? Panera Wants You to Relive It — One Broccoli Cheddar Bread Bowl at a Time