CBE issues LE 2.5B in T-bonds Monday

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Mon, 26 Aug 2019 - 12:35 GMT

BY

Mon, 26 Aug 2019 - 12:35 GMT

FILE – CBE

FILE – CBE

CAIRO – 26 August 2018: The Central Bank of Egypt (CBE), on behalf of the Ministry of Finance, issued LE 2.5 billion in treasury bonds on Monday, August 26.

The T-bonds were offered in two installments, with the first valued at LE 1.25 billion with a five-year term and the second worth LE 1.25 billion with a 10-year term.

For the current fiscal year, the budget deficit is estimated to record LE 445.1 billion, or 7.2 percent, planned by the ministry to be financed through treasury bills and bonds and through international and Arab loans.

On Thursday, The Monetary Policy Committee of the Central Bank of Egypt (CBE) cut the overnight deposit rate, the overnight lending rate, and the rate of the main operation by 150 basis points.

The overnight deposit rate, the overnight lending rate, and the rate of the main operation are cut to be at 14.25 percent, 15.25 percent, and 14.75 percent, higher than economists’ expectations.

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