Wednesday, October 5News That Matters

Author: jknmarcela

POLL-Egypt's central bank expected to raise rates as inflation weighs

CAIRO, June 21 (Reuters) - Egypt's central bank will raise its overnight deposit rate by 50 basis points (bps) on Thursday as it seeks to dampen surging inflation, a Reuters poll forecast. The median forecast in a poll of 17 analysts is for the Central Bank of Egypt (CBE) to raise daftar slot deposit pulsa rates to 11.75% at its regular monetary policy committee meeting.The lending rate would rise by a median 25 bps to 12.50%, they predicted. The bank raised rates by 200 bps at its last meeting on May 19, saying it was seeking to contain inflation expectations after prices surged by their quickest in three years. In March it raised rates by 100 bps, its first increase in nearly 18 months, citing the crisis in Ukraine. Pascal Devaux of BNP Paribas GB said persisting inflationary pressure in...