Egypt Seen Raising Rates to 11-Year High After Inflation SurgeBy
Price growth at seven-year high before expected boost from VAT
Economists also predict second currency devaluation this year
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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