Georgieva said the Egyptian state acted “very swiftly” once the coronavirus pandemic started to protect people and therefore protect the economy.
“We will move to inflation targeting, a flexible inflation targeting framework,” said Lobna Helal, deputy governor of the Central Bank of Egypt at a conference in Abu Dhabi.
The Federal Reserve should raise U.S. interest rates three or four times this year, John Williams, president of the San Francisco Federal Reserve Bank, said.
A wrap-up of the most prominent business news of the day.
CBE Governor said Tuesday that the bank plans to start easing monetary policy “soon,” once it is assured that inflation has been controlled.
With receiving the latest tranche, the IMF would have paid a total value of $6.08 billion to Egypt.
World stocks stayed near all-time peaks and the dollar extended a winning streak on Wednesday.
Tokyo Governor Yuriko Koike, whose new conservative party is challenging Japan's ruling bloc in an Oct. 22 election.
The dollar fell to its lowest level in nearly 2 years against the euro on Thursday after Draghi said policymakers would discuss its bond-buying scheme in the autumn
The Central Bank of Egypt’s (CBE) unexpected decision to hike key policy rates is “unjustifiable” and will add more pressure on the state budget.
The Central Bank of Egypt (CBE) unexpectedly decided Thursday to raise interest rates by 200 basis points (two percent)
The Central Bank of Egypt (CBE) is scheduled to consider interest rates today
Economists expected an increase in inflation rates due to rising fuel prices.