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Businesspeople outraged amid expectations that debt payments will increase by EGP 30bn
The Monetary Policy Committee will hold its last meeting in 2016 on Thursday to review the prices of basic earnings at the CBE
Attracting new customers, including university students, and offering modern banking technology are the banks’ way of achieving better growth rates
Analysts expect these rates to remain unchanged for three to six months
Investors are now paying to own German bonds, as they flock towards safe havens amid Brexit fears and turbulent stock markets. The ECB’s quantitative easing program further pushes down interest rates on sovereign debt.
Analysts warn about the negative impact on inflation rate if the step is not well-prepared
The government’s current debt is projected to reach 11.5% (EGP 309bn) in fiscal year (FY) 2016/17
The Central Bank of Egypt faces difficulty on inflation hike of more than 2% in May
Ministry of Finance offered three auctions for treasury bonds on Monday. The first is with maturity period of a year and a half, and an average return of 14.631%, compared to 12.719% before raising the interest rate, an increase of 1.912%
The Federal Reserve kept interest rates steady, while indicating that economic headwinds around the world means the central bank won’t raise rates as high as it had originally planned.
Inflation to average 9.8% in 2016, FocusEconomics monthly report says
The banks started to hold intensified meetings on Sunday morning to discuss the future of interest rates on the deposits and loans they handle.
Stock exchange to face short wave of profits as a result of the increase of last 6 sessions with weak purchasing power
Intensified meetings in banks to discuss the move’s effects on customer deposits
The Egyptian pound will not rise because of a new governor, says Abdel Aal
Financial Policy Committee has fears over growth rates with the deflation of global economy
Banks prefer to loan government over investors, says Egyptian Tourism Federation Chairman
The CBE also kept the discount rate unchanged at 9.25%.
CBE launched mortgage initiative last April worth EGP 10bn for real estate financing involving funding housing for low-middle income classes at concessional terms
Early Monday, the Central Bank of Egypt adjusted July’s inflation rate, increasing it from 10.61% to 11.04%
A recent CBE decision saw an increase in the benchmark overnight deposit rate by 1% to 9.25%, and the overnight lending rate to 10.25%.
A number of government banks raise returns on savings certificates to attract liquidity, fight inflation, and increase individual returns
Central Bank of Egypt increased interest rates by 1% to contain high inflation expected after subsidy decrease and petroleum price increases
Bank says decision aims to balance increasing annual inflation rates, sluggish economic activity, low investment levels and negative GDP outlook
Galal discloses that the CBE has held onto a $9bn deposit since the 1990s, which the government will use to finance its two stimulus packages
The urban consumer inflation rate rose to 10.4% in October
Central Bank decision to maintain interest rate was expected by analysts in order to curb inflation and save the deposits of family sector in banks