Central Banks
Egypt’s Devaluation Timeline Sets Back Clock for More Rate Hikes
- Central bank held rates for second month despite price pick-up
- Egypt looks to raise foreign cash before allowing weaker pound
This article is for subscribers only.
Sign up for our Middle East newsletter and follow us @middleeast for news on the region.
Egypt looked past a pick-up in inflation to keep interest rates unchanged for a second month, with the central bank’s next bout of monetary tightening likely hinging on the country’s ability to secure the foreign exchange needed to manage another currency devaluation.