May 19..An important decision awaits the Egyptian markets at the Central Bank meeting

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Affected by the US Federal Reserve’s interest rate hike, and the rise in global commodity prices as a result of the Ukraine war, the annual inflation rate in Egypt’s total jumped in April to 14.9%, its highest rate since November 2018, compared to 12.1% in March, according to data from the Central Agency for Public Mobilization. and statistics.

While the annual inflation rate in cities continued to exceed targets Egyptian Central Bank After rising to 13.1% in April, compared to 10.5% in March.

The Central Bank was targeting the annual inflation rate at the level of 7% (plus or minus 2%) on average during the fourth quarter of 2022.

The rise in food prices in Egypt contributed to an increase in the monthly inflation rate in April to 3.7%, compared to 2.4% in March.

Monthly and annual inflation readings in Egypt came slightly higher than expectations, according to Sarah Saadeh, a macroeconomic analyst at Investment Bank. "CI Capital" for"Sky News Arabia economy".

This was confirmed by Ahmed Shukri Rashad, assistant professor of economics and economic expert at the Economic Research Forum, by saying that the rise in inflation in Egypt was expected, but the percentage was greater than analysts’ expectations.

And thank you for"Sky News Arabia economy" For example, a report by Al-Naeem Securities Brokerage Company was expecting the annual inflation rate for cities in Egypt at 11.8% in April, while it came at 13.1%.

According to a report by Tali Al-Naim, the annual inflation in cities was higher than expectations, indicating that the rise was mainly driven by higher food prices.

May 19 meeting

This rise in inflation increases the possibility of raising the interest rate during the meeting of the Monetary Policy Committee of the Central Bank of May 19.

Expected Bank Report "BNP Paribas"French, check it out "Sky News Arabia Economy"The Central Bank will raise the interest rate by 2% during May, affected by the US Federal Reserve’s decision to raise the interest rate by 0.5% at the beginning of the month, in addition to the rise in inflation in Egypt affected by the large jump in global commodity prices.

A report by Al-Naeem Securities Brokerage Company indicates that the Central Bank will raise interest rates by 1% during the upcoming Monetary Policy Committee meeting on May 19.

Report is expected "BNP Paribas" That the Central Bank raise the interest rate by 1% during the upcoming August and September meetings.

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Affected by the US Federal Reserve’s interest rate hike, and the rise in global commodity prices as a result of the Ukraine war, the annual inflation rate in Egypt’s total jumped in April to 14.9%, its highest rate since November 2018, compared to 12.1% in March, according to data from the Central Agency for Public Mobilization. and statistics.

While the annual inflation rate in cities continued to exceed targets Egyptian Central Bank After rising to 13.1% in April, compared to 10.5% in March.

The Central Bank was targeting the annual inflation rate at the level of 7% (plus or minus 2%) on average during the fourth quarter of 2022.

The rise in food prices in Egypt contributed to an increase in the monthly inflation rate in April to 3.7%, compared to 2.4% in March.

Monthly and annual inflation readings in Egypt came slightly higher than expectations, according to Sarah Saadeh, a macroeconomic analyst at CI Capital Investment Bank, to Iqtisad.

This was confirmed by Ahmed Shukri Rashad, assistant professor of economics and economic expert at the Economic Research Forum, by saying that the rise in inflation in Egypt was expected, but the percentage was greater than analysts’ expectations.

Shoukry gives “Sky News Arabia” an example of this, that a report by Al-Naeem Securities Brokerage Company had expected the annual inflation rate for cities in Egypt at 11.8% in April, while it came at 13.1%.

According to a report by Tali Al-Naim, the annual inflation in cities was higher than expectations, indicating that the rise was mainly driven by higher food prices.

May 19 meeting

This rise in inflation increases the possibility of raising the interest rate during the meeting of the Monetary Policy Committee of the Central Bank of May 19.

A report by the French bank BNP Paribas, which was reviewed by “Sky News Arabia”, expected the central bank to raise the interest rate by 2% during May, affected by the US Federal Reserve’s decision to raise the interest rate by 0.5% at the beginning of the month, in addition to the rise in inflation in Egypt, affected by Big jump in world commodity prices.

A report by Al-Naeem Securities Brokerage Company indicates that the Central Bank will raise interest rates by 1% during the upcoming Monetary Policy Committee meeting on May 19.

The BNP Paribas report expects the central bank to raise the interest rate by 1% during the August and September meetings.

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