Thndr Claps » EGY Claps » Economy 🏙 » CBE meets on Thursday🏛
The ClapSeveral investment banks see the Central Bank of Egypt raising interest rates again when it meets on Thursday, December 22nd.
WhatIt’s worth noting that the Central Bank has already raised interest rates by 5% since the start of 2022.
So whatThe aim of raising interest is twofold: to curb inflation, which hit an alarming level in November 2022, and to attract foreign funds & infuse the economy with foreign currency.
Now whatThe expected increase could fall within the 1%-2% range, with further increases likely during Q1-2023.
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