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Egypt’s MPC maintains policy rates as forecasted by CI Captial

The Central Bank of Egypt (CBE) decided to keep its overnight deposit and lending rates at 14.75% and 15.75% respectively, while the CBE’s main operations and discount rates were both kept unchanged at 15.25%. According to CI Capital, the CBE’s decision to keep policy rates unchanged following the 0.25% hike by the Federal Reserve System …

Daily News Egypt

FX is not only indicator for assessing economy: Arqam Capital

Most of the foreign exchange (FX) flows to banks are being directed to alleviating longstanding pressure on the corporate and household sectors to spur economic activity and reduce inflationary pressures, while meeting the demands of foreign companies and investors for repatriation. According to Arqam Capital’s report “The Devil in the FX” published in February, the …

Mohamed Samir

Usage of cards abroad dropped by 55% following flotation: CBE

Egyptians usage of cards abroad dropped by a value of $223m in November and December 2016, following the Central Bank of Egypt (CBE) decision to float the national currency—a drop of 55% compared to the same months in 2015. In a press release on Tuesday, CBE stated that data from banks indicate that payments via …

Hossam Mounir