Egypt's central bank left its key interest rates on hold for the third time in a row, as expected, and said inflation is expected to drop after the impact of temporary effects subside, helped by its preemptive monetary policy actions, absorption of liquidity and favorable base effects.
Egypt's annual headline inflation rose to 29.6 percent in January from 24.3 percent in the previous month, hitting its highest level after the country freely floated its currency against the dollar in November, state statistics body CAPMAS announced Saturday.
The Central Bank of Egypt (CBE) received on Tuesday a total of $4 billion in yields from Eurobonds issued on the global bonds market last week, state news agency MENA reported on Wednesday, citing the bank's governor.
Egypt successfully issued $4 billion in Eurobonds on the global bond market, the largest issuance in Egypt and Africa, bridging the funding gap for this fiscal year, finance minister Amr El-Garhy announced on Sunday at a press conference.
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