Egyptian Central Bank Decides to Raise Interest Rates by 100 Basis Points
Qiyas summary
Egyptian Central Bank raises interest rates to combat inflation
Translated by Qiyas from الجريدة — Original source
The Central Bank of Kuwait stated in a press release that the committee decided to raise the overnight deposit and lending rates, as well as the central bank’s main operation rate, to 20%, 21%, and 20.5%, respectively. The discount rate was also raised to 20.5%.
The statement clarified that this decision comes amid an “unfavorable external environment and rising uncertainty,” and aims to “anchor expectations and maintain the downward trajectory of inflation.”
