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Monetary Policy Committee

CBE’s Monetary Policy Committee raises key interest rates by 2% citing hiking prices

The CBE has now increased key interest rates by 5% since the start of the Russia/Ukraine conflict

MPC maintains key policy rates for 2nd time, sees positive growth in Q2 2022

The meeting was led by acting CBE Governor Hassan Abdallah, who was appointed merely hours before the session after previous governor Tarek Amer resigned yesterday

MPC maintains key policy rates for first time since March

For Q1 2022, domestic economic activity saw a slowed pace of expansion, registering a preliminary growth of 5.4%, compared to 8.3% in Q4 of 2021 (the second highest real GDP growth rate since Q3 2002)

MPC raises key policy rates by 200 basis points against continued global challenges

Until the start of the Russia/Ukraine conflict, Egypt’s MPC had not changed interest rates for 10 consecutive meetings

CBE governor defends CBE decisions, calls EGP value drop a “correction”

The sudden drop reminded many Egyptians of the November 2016 devaluation, which saw the pound lose nearly half of its value