Fitch Solutions expects Egypt’s to hike interest rates by 100bp before year-end

Fitch Solutions expects Egypt’s central bank to raise its key interest rates by 100 basis points before the end of the year.

The Central Bank of Egypt (CBE) has already hiked key interest rates by 300 basis points until August 2023.

In a recent report, Fitch also said that the external financing gap depends on the progress made by the Egyptian authorities in the privatisation plan and the successful adjustment of the currency rate. The report also Fitch also predicted that inflation would reach 41 percent next month.

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