Latest in Highlight
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Egypt’s stocks likely to move sideways due to interest rates hike, Ramadan
Local investors are expected to dump shares and turn them into banking assets
Banks tend to maintain interest rates unchanged despite CBE’s 2% hike
Government banks offer highest return on savings in the local market and they need to study the impact of new rises on money cost
Raising interest rates shakes markets, disturbs business community
Businesspeople outraged amid expectations that debt payments will increase by EGP 30bn
US Fed: Interest rates unaltered, upbeat outlook
Uncertainty clouds future of interest rate on Egyptian pound
The Monetary Policy Committee will hold its last meeting in 2016 on Thursday to review the prices of basic earnings at the CBE
Flotation of the pound, raising interest rates limit growth of retail banking: banker
Attracting new customers, including university students, and offering modern banking technology are the banks’ way of achieving better growth rates
Interest rates remain unchanged by the CBE
Analysts expect these rates to remain unchanged for three to six months
Germany issues bonds with negative interest
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.
Strong expectations about pound devaluation by CBE after raising interest rates
Analysts warn about the negative impact on inflation rate if the step is not well-prepared
Increasing interest rates: controlling inflation or increasing deficit and debt burden?
The government’s current debt is projected to reach 11.5% (EGP 309bn) in fiscal year (FY) 2016/17
Ambiguity mars CBE’s next move on EGP interest rates
The Central Bank of Egypt faces difficulty on inflation hike of more than 2% in May
Return on treasury bonds jumps by more than 1.5%, public banks begin to raise interest rates
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%
Fed keeps rate, pares back future hikes
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.
FocusEconomics reduces GDP growth forecast for Egypt
Inflation to average 9.8% in 2016, FocusEconomics monthly report says
Banks delay raising interest rates on pound savings until return from debt instruments increases
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 market expected to decline due to increase in interest rates
Stock exchange to face short wave of profits as a result of the increase of last 6 sessions with weak purchasing power
Banking sector shaken by raised NBE, Banque Misr interest rates
Intensified meetings in banks to discuss the move’s effects on customer deposits
New CBE governor must balance between inflation, exchange rate, interest rates: Expert
The Egyptian pound will not rise because of a new governor, says Abdel Aal
China announces further stimulus amid slump
Fed leaves door open for September rate hike
CBE to fix deposit, loan interest rates
Financial Policy Committee has fears over growth rates with the deflation of global economy
Tourism investors face obstacles in Egypt
Banks prefer to loan government over investors, says Egyptian Tourism Federation Chairman
CBE maintains key interest rates
The CBE also kept the discount rate unchanged at 9.25%.
NBE to grant credit for 640 housing units
CBE launched mortgage initiative last April worth EGP 10bn for real estate financing involving funding housing for low-middle income classes at concessional terms
CBE interest rates remain unchanged
Early Monday, the Central Bank of Egypt adjusted July’s inflation rate, increasing it from 10.61% to 11.04%
7 banks raise interest rates on deposits after Central Bank decision
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%.
National Bank of Egypt, Banque du Caire, and Banque Misr increase returns on savings certificates
A number of government banks raise returns on savings certificates to attract liquidity, fight inflation, and increase individual returns
Interest rate hike to threaten government debt inflation if financial reform fails: DCode Chairman
Central Bank of Egypt increased interest rates by 1% to contain high inflation expected after subsidy decrease and petroleum price increases
CBE keeps interest rates on hold for third consecutive time
Bank says decision aims to balance increasing annual inflation rates, sluggish economic activity, low investment levels and negative GDP outlook
Finance minister discusses current economic situation and challenges for next government
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