Egypt Rate Hike to Curb Growth
Egypt Rate Hike to Curb Growth

Egypt Rate Hike to Curb Growth

Egypt Rate Hike to Curb Growth

Egypt’s financial community says Sunday’s 2% interest rate hike, in line with calls from the International Monetary Fund, will do little to curb rampant inflation and will harm investment at a time when the country needs it most, Reuters reported. The central bank’s first hike since a 3% rate rise in November is aimed at dealing with inflation—now above 30%—as well as demand-side pressures, after the IMF said action on those two factors was vital to keeping Egypt’s economic reform program on track. The business community blames IMF pressure for what it says is a wrong decision.


Short URL : https://goo.gl/W3kni8
  1. https://goo.gl/e9pYKj
  • https://goo.gl/RqLpql
  • https://goo.gl/1HkVa9
  • https://goo.gl/LsbMxw
  • https://goo.gl/x1Bbve

You can also read ...

India Launches 888 Anti-Dumping Probes
The Indian government has initiated as many as 214 anti-...
Federal Reserve Board Chairman Jerome Powell speaks during a hearing before the Senate Banking, Housing and Urban Affairs Committee.
US Federal Reserve Chairman Jerome Powell said protectionism...
Fitch Retains Philippine  Debt Rating
Global debt watcher Fitch Ratings kept the Philippines’...
Shifting transactions from cash to digital payments holds great promise for  individuals, businesses and governments.
More than 23% of the world's economy operates out of sight of...
UN to Help Rebuild Gaza Economy, Create Jobs
Against the backdrop of rapidly rising tension, violence,...
Lloyds Loses Mortgage Market Share
Lloyds lost market share in UK mortgages last year as Royal...
EU to Fine Google $5 Billion
Google will be fined about €4.3 billion ($5 billion) by the...
ECB Research Says Stimulus Didn’t Favor the Rich
New research published by the European Central Bank pushes...

Add new comment

Read our comment policy before posting your viewpoints