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Egypt Current Account
The Current Account balance is calculated as the difference between exports minus imports of products and services, net factor income (such as interest and dividends), and net transfer payments (such as foreign aid).
A higher than expected figure should be seen as positive (bullish) for the EGP while a lower than expected figure should be seen as negative (bearish) for the EGP.
News (EGP)
Egypt Central Bank Lifts Interest Rates By 600 Bps In Surprise Move
Egypt's central bank decided to raise its interest rate by 600 basis points and to allow the currency exchange rate to be determined by market forces at an emergency meeting on Wednesday, citing high inflation. The Monetary Policy Committee of the Central Bank of Egypt lifted the overnight deposit rate to 27.25 percent and the overnight lending rate to 28.25 percent.
RTTNews | 408 days ago
