{"id":79007,"date":"2024-12-27T13:36:15","date_gmt":"2024-12-27T10:36:15","guid":{"rendered":"https:\/\/www.kfm.co.ug\/?p=79007"},"modified":"2024-12-27T13:36:15","modified_gmt":"2024-12-27T10:36:15","slug":"egypt-central-bank-keeps-overnight-interest-rates-steady","status":"publish","type":"post","link":"https:\/\/www.kfm.dembefm.ug\/staging_h\/egypt-central-bank-keeps-overnight-interest-rates-steady\/","title":{"rendered":"Egypt central bank keeps overnight interest rates steady"},"content":{"rendered":"<p><strong>By REUTERS<\/strong><\/p>\n<p>Egypt&#8217;s central bank kept its overnight interest rates unchanged on Thursday, as expected, saying that while inflation was set to decelerate sharply in early 2025 it nonetheless remained high.<\/p>\n<p>The bank&#8217;s monetary policy committee kept the lending rate at 28.25% and the deposit rate at 27.25%, it said in a statement. The unanimous forecast in a Reuters poll of 12 analysts was that the committee would keep rates steady.<\/p>\n<p>Egypt&#8217;s headline inflation dipped in November to 25.5%, its lowest since December 2022, and has been trending downwards from a record high of 38.0% in September 2023.<\/p>\n<p>&#8220;Inflation is projected to ease substantially in 2025, as the cumulative impact of monetary policy tightening and favorable base effect materializes, with a notable decline in Q1 2025 and convergence to single digits by H2 2026,&#8221; the statement said.<\/p>\n<p>It added that according to leading indicators, economic growth accelerated in the second half of 2024 from the 2.4% recorded in the second quarter.<\/p>\n<p>&#8220;The committee judges that the current policy rates remain appropriate to maintain a tight monetary stance until a significant and sustained decline in inflation is achieved, and expectations are firmly anchored,&#8221; the statement said.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By REUTERS Egypt&#8217;s central bank kept its overnight interest rates unchanged on Thursday, as expected, saying that while inflation was set to decelerate sharply in early 2025 it nonetheless remained high. The bank&#8217;s monetary policy committee kept the lending rate at 28.25% and the deposit rate at 27.25%, it said in a statement. The unanimous forecast in a Reuters poll of 12 analysts was that the committee would keep rates steady. Egypt&#8217;s headline inflation dipped in November to 25.5%, its lowest since December 2022, and has been trending downwards from a record high of 38.0% in September 2023. &#8220;Inflation is projected to ease substantially in 2025, as the cumulative impact of monetary policy tightening and favorable base effect materializes, with [&hellip;]<\/p>\n","protected":false},"author":37,"featured_media":79008,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"episode_type":"","audio_file":"","cover_image":"","cover_image_id":"","duration":"","filesize":"","date_recorded":"","explicit":"","block":"","filesize_raw":"","jnews-multi-image_gallery":[],"jnews_single_post":{"format":"standard","override":[{"template":"1","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"1","show_view_counter":"1","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"0","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_prev_next_post":"1","show_popup_post":"1","number_popup_post":"1","show_author_box":"0","show_post_related":"0","show_inline_post_related":"0"}],"image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post_position":"meta","trending_post_label":"Trending","sponsored_post_label":"Sponsored by","disable_ad":"0","subtitle":""},"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":{"view_counter_number":"0","share_counter_number":"0","like_counter_number":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[7],"tags":[],"class_list":["post-79007","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/www.kfm.dembefm.ug\/staging_h\/wp-json\/wp\/v2\/posts\/79007"}],"collection":[{"href":"https:\/\/www.kfm.dembefm.ug\/staging_h\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.kfm.dembefm.ug\/staging_h\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.kfm.dembefm.ug\/staging_h\/wp-json\/wp\/v2\/users\/37"}],"replies":[{"embeddable":true,"href":"https:\/\/www.kfm.dembefm.ug\/staging_h\/wp-json\/wp\/v2\/comments?post=79007"}],"version-history":[{"count":0,"href":"https:\/\/www.kfm.dembefm.ug\/staging_h\/wp-json\/wp\/v2\/posts\/79007\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.kfm.dembefm.ug\/staging_h\/wp-json\/wp\/v2\/media\/79008"}],"wp:attachment":[{"href":"https:\/\/www.kfm.dembefm.ug\/staging_h\/wp-json\/wp\/v2\/media?parent=79007"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.kfm.dembefm.ug\/staging_h\/wp-json\/wp\/v2\/categories?post=79007"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.kfm.dembefm.ug\/staging_h\/wp-json\/wp\/v2\/tags?post=79007"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}