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The Department of Finance canceled the sale of bonds at 3 and 8 years worth 3.5 billion pounds after asking for high interest rates at banks and to investors
. He attributed to the former finance minister, Mumtaz al-Said, the cancellation of the offers of the Central Bank, which he submits on behalf of the Ministry of Finance, at interest rates high on the bonds offered, pointing out that the Ministry of Finance was receiving offers of investors from 16 to 17%. The interest rates offered have exceeded this limit, which is unsuitable for the supply, he says. 003] The state budget financial statements for the current year highlight the risks of rising interest rates, pointing out that each 1% interest rate increase entails a deficit increase from 4 to 5 billion pounds.
The public debt instruments in the current 2018-2019 budget is about 14.7% against 18.5% expected in 2017-2018
In another context, the central bank, the annual rate core inflation fell to 10.9% in June from 11. 1% in May, said in a statement yesterday, the basic index of consumer prices recorded a monthly average 1.6% last June, headquarters
For its part, Beltone Research said that inflation remains within the target range of the Central Bank of Egypt, despite the rise in June.
In a research note released Tuesday, Beltone added that high returns confirm the lawsuit The central bank has kept interest rates at the next meeting in August and until the end of 2018.
Beltone sees the measured inflation in June as the highest in the second half of 2018, which remains in the central bank's target range at 13% +/- 3%) by the end of 2018
The Monetary Policy Committee of the Central Bank of Egypt decided at its meeting on Thursday The overnight deposit rate and the overnight rate of May 17, 2018 remained unchanged at 16 , 75% and 17.75% respectively, while maintaining the rate of the central bank at 17.25% and the rate of credit and discount at 17.25%. You like it
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