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بوابة الشروق
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Source: بوابة الشروق
3 Daysبوابة الشروق
Source: بوابة الشروق
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Lamis Elhadidy said the Central Bank raised interest rates by 1 percentage point, to 20% for deposits and 21% for lending, amid global uncertainty and inflationary pressures. She outlined three aims of the move: to get ahead of inflation, maintain the appeal of debt instruments to foreign investors after about $3.5 billion flowed out over two weeks, and hedge against expected inflation as oil climbed to $117 a barrel, compared with the $75 assumed in the budget. She noted that the decision came as prices rose 1.3% month on month and the pound had fallen by about 8% since October. She stressed that action by the Central Bank alone would not be enough and would need to be matched by a government response.
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