14 Feb 2017
(MENAFN) Egypt’s core inflation has jumped to its highest level in more than a decade, reaching 30.86 percent in Jan as the effects of a currency float and IMF endorsed austerity measures.
Furthermore, the pound has halved in value and urban consumer price inflation reached 28.1 percent in Jan year-on-year from 13.6 percent in Oct.
However, the jump could not pressure on the central bank to hike rates, while the bank will hold overnight deposit rates at 14.75 percent.
Meanwhile, the currency float, which helped Egypt clinch USD12bn three-year loan from the IMF, is part of a larger government economic reform program.
MENAFN1402201700450000ID1095246804
MENAFN1402201700450000ID1095246804
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
08 Jul 2025
BBK proudly launches the third edition of “Grow” and welcomes 20 Bahraini graduates
03 Jul 2025
BBK hosts executive leadership session on digital assets in collaboration with Rain
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
16 Jun 2025
BBK and CrediMax Offer Exclusive 20% Discount on Turkish Airlines Flights for Cardholders
25 May 2025
BBK strengthens commitment to sports development through strategic partnership with Bahrain Basketball Association
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more