Egypt pound plummets as central bank hikes interest rates ...Kuwait

The New Arab - News

Egypt’s central bank said Thursday that it raised key interest rates by 2% in a bid to combat the Arab country’s surging inflation. The bank’s Monetary Policy Committee said in a statement that it had raised the new lending rate to 14.25% and the deposit rate to 13.25%. The discount rate was also raised to 13.75%, it said. The intervention is primarily designed to offset rising inflation, which passed 15% in September, and lighten the financial pressure on lower- and middle-income households. The Egyptian economy has been hard-hit by the coronavirus pandemic and the war in Ukraine, events that have disrupted global markets and hiked oil and food prices worldwide. Egy

Hence then, the article about egypt pound plummets as central bank hikes interest rates was published today ( Thursday 27/10/2022 - 01:00 PM ) 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 pound plummets as central bank hikes interest rates )

Last updated : 27 October 2022 clock 01:00 PM

Also on site :

Egypt pound plummets as central bank hikes interest rates ...Kuwait

Orioles Acquire Intriguing 6-foot-4 Catcher After Giants Tenure

Khloe Kardashian's Health-Conscious Popcorn Brand Releases 'Its Most Decadent Flavor Yet'

Cuba pays tribute to 32 soldiers killed in US attack on Venezuela

AI video startup, Higgsfield, founded by ex-Snap exec, lands $1.3B valuation

Jack O’Connell on Going From ‘Sinners’ to ’28 Years Later: The Bone Temple’ and His ‘Amazing Year’ of Villains: ‘It Was Nothing but Sheer Luck’

Kiernan Shipka Came of Age as Sally Draper. Now She’s Grown Up Enough for ‘Industry’

Chocolate bars recalled due to potential salmonella contamination: See the full list

Soneil Spark Introduces New Line of Premium AC Chargers

For Trump, a Path Forward on Iran That Goes Beyond Bombs

Kurtenbach: For the 49ers, Seahawks familiarity only breeds confusion

Chase Rice on Why He Decided to Quit Touring: ‘Everything Felt Wrong’

This Just In: A Mosaic of Panic

Why the change of heart? Trump dials down threats of strikes against Iran

Broncos-Bills scouting report: How will Vance Joseph’s linebackers handle Josh Allen, Buffalo’s TEs?

Trump latest: Venezuela’s opposition leader meets with Trump at White House after she vowed to share Nobel Peace Prize