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FINANCIAL NEWS
Egypt’s domestic liquidity grows to EGP2.85tr by end-May
07 Jul 2017
(MENAFN) Domestic liquidity increased to 2.3 percent in May month on month, according to basic fiscal statements by the Central Bank of Egypt.
In the cited month, local liquidity recorded EGP2.849tr, compared to EGP2.784tr in April, added the bank.
Furthermore, the bank raised the interest rate by 2 percent by the end of May for the second time in six months, after raising it by 3 percent on 3 Nov last year.
In addition, the CBE’s Monetary Policy Committee will discuss whether the interest rate will be raised again or remain fixed.
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MENAFN0707201700450000ID1095604959
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