Egypt bank raises overnight interest rates by 200 bps ...Kuwait

Egypt’s Central Bank raised its overnight interest rates by 200 basis points (bps) on Thursday, according to reports. The rates were raised after a meeting of its Monetary Policy Committee (MPC), who said its aim was to bring high inflation into check, Reuters reported. Egypt has been struggling to contain economic pressures exposed by the consequences of the war in Ukraine, which include rising costs to grain and fuel imports. The bank set the lending rate at 19.25% and the deposit rate at 18.25%, according to Reuters. Finance and investment experts, including Tariq Metwally, believe the best way out of the financial crisis is for the government to sell more public

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