Egypt Seen Raising Rates to 11-Year High After Inflation Surge

  • Price growth at seven-year high before expected boost from VAT
  • Economists also predict second currency devaluation this year

Egypt Seen Raising Rates to 11-Year High

Egypt’s central bank will likely raise its key borrowing costs to the highest level in more than a decade, as it tries to curb surging consumer prices amid growing speculation of another currency devaluation to ease the country’s dollar crunch.

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