Central Bank of Egypt hikes rates as reserves dwindle and inflation rises

egypt flag

The Central Bank of Egypt yesterday raised interest rates by 50 basis points, ostensibly to tackle rising inflation, but also – according to some commentators – in a bid to prop up the country's dwindling reserves.

The central bank said inflation increased to 2.5% month-on-month in February, the fastest rise since August 2010, translating into a year-on-year increase of 8.2%. Growth however was 2.4% in the first half of fiscal 2012-13, a figure the central bank described as "feeble".

In a

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: