{"id":651680,"date":"2017-02-19T04:06:19","date_gmt":"2017-02-19T04:06:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/19\/mpc-maintains-key-interest-rates-in-thursday-meeting\/"},"modified":"2017-02-19T04:06:19","modified_gmt":"2017-02-19T04:06:19","slug":"mpc-maintains-key-interest-rates-in-thursday-meeting","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/19\/mpc-maintains-key-interest-rates-in-thursday-meeting\/","title":{"rendered":"MPC maintains key interest rates in Thursday meeting"},"content":{"rendered":"

<\/a> CBE leaves key interest rates on hold for the third consecutive meeting: <\/strong>As many had been anticipating<\/a>, the Central Bank of Egypt\u2019s Monetary Policy Committee (MPC) decided on Thursday to leave overnight deposit and lending rates unchanged at 14.75% and 15.75%, respectively,<\/strong> according to a CBE statement (pdf)<\/a>. January\u2019s record-high inflation rate was the primary motive for the MPC\u2019s decision, with the CBE taking the view that the spike is transient. \u201cAnnual inflation is expected to drop after transitory cost-push effects subside and monthly inflation rates decline,\u201d the statement said. Experts had predicted that hiking rates \u201cwould have done little to temper the country's high inflation, which is largely the result of a weaker currency,\u201d Naeem Brokerage\u2019s Head of Research Allen Sandeep tells Reuters<\/a>.<\/p>\n

Meanwhile, yields on EGP-denominated treasuries inched up on Thursday<\/strong>, rising 1.1% to 18.82% from 17.72% the week before<\/a>, according to Al Borsa<\/a>. Yields on t-bills have been declining from 19.6% at the 2 February issuance. Finance Ministry sources tell the newspaper that the uptick in yields came in anticipation of the MPC meeting, where banks expected it to raise interest rates. The newspaper\u2019s sources expect yields to contract once again this week after the MPC left rates on hold.<\/p>\n","protected":false},"excerpt":{"rendered":"

CBE leaves key interest rates on hold for the third consecutive meeting: As many had been anticipating, the Central Bank of Egypt\u2019s Monetary Policy Committee (MPC) decided on Thursday to leave overnight deposit and lending rates unchanged at 14.75% and 15.75%, respectively, according to a CBE statement (pdf). January\u2019s record-high inflation rate was the primary […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-651680","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"961f101b-8983-498f-a1d3-3af80098627d","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[651672],"teaser":"","voice_url":""},"yoast_head":"\nMPC maintains key interest rates in Thursday meeting - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2017\/02\/19\/mpc-maintains-key-interest-rates-in-thursday-meeting\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MPC maintains key interest rates in Thursday meeting\" \/>\n<meta property=\"og:description\" content=\"CBE leaves key interest rates on hold for the third consecutive meeting: As many had been anticipating, the Central Bank of Egypt\u2019s Monetary Policy Committee (MPC) decided on Thursday to leave overnight deposit and lending rates unchanged at 14.75% and 15.75%, respectively, according to a CBE statement (pdf). 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Respondents cited the inflationary effects of last weekend\u2019s fuel subsidy\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2018\/11\/1115.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/651680","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=651680"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/651680\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/651672"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=651680"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=651680"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=651680"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=651680"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=651680"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}