The lending rate is increased to 20.25% and the deposit rate to 19.25%
inflationary pressures
Latest in inflationary pressures
economic crisis
Pakistan’s inflation soars to 28.3% in July amid economic crisis
The jump in inflation followed a 37.64% rise in the prices of fresh vegetables, 33.45 % in tomato prices and 17.90 % in fresh fruits prices
Bahrain
UAE, other GCC nations hike interest rates as US Fed benchmark hits 22-year high
GCC central banks hike interest rates following the Fed’s decision to take benchmark borrowing costs to their highest level since 2001
fed interest rate increase
US Federal Reserve raises interest rates by 0.25% amid inflation concerns
The hike to the 5.25-5.50 % range – the Fed’s 11th in its last 12 meetings – is the highest in 22 years
consumer price index
US inflation dips to 2-year low
The data by the country’s Labour Department showed the Consumer Price Index grew at an annual rate of 3 percent – smallest since March 2021
Central Bank of Egypt
Egypt central bank holds interest rates unchanged
The bank cited signs of decline in commodity prices and a recovery in economic growth for its decision
Central Bank of Egypt
Central Bank of Egypt raises key interest rates by 2% for the first time in 2023
This is the first increase this year, as the CBE maintained its unchanged interest rates during its February meeting
economic growth
US economy ends 2022 with momentum despite recession fears
The US economy expanded 2.9% in Q4: slightly higher than economists’ forecasts
Bureau of Labor Statistics
US inflation falls to year’s lowest level in December at 6.5 percent
The fall in inflation has further fuelled speculation about easing of interest rate hike by the Fed
Central Bank of Egypt
Egyptian central bank beat market expectations with a 3% rate hike
The hike is more than the 200 basis points predicted by an analysts’ poll earlier
Central Bank
Kuwait’s central bank announces 0.5 percent hike in discount rates to 3.5%
Indian central bank also announced a 35 basis points hike in lending rates to 6.25 percent on Wednesday
inflation
UAE inflation will fall in 2023: Minister
UAE inflation will fall next year says Minister of Economy
Commodities
How to inflation-proof your portfolio
An uncertain global economy requires certainty of investment focus
Bank of England
Bank of England warns UK to enter longest ever recession
The raised interest rates by the Bank of England is the biggest hike since 1989
Central Bank of Egypt
Egyptian pound plummets, stock market rebounds after 2% rate hike by the central bank
The bank also announced the start of a ‘durably flexible exchange rate regime’, which will measure the Egyptian pound against other foreign currencies
Carrefour
UAE supermarket locks prices as inflation spikes cost of living
Carrefour locks in the prices for over 200 products
Cryptocurrency
Will the Middle East be shielded from economic recession in the West?
There’s a huge amount of speculation floating around regarding the economic crisis – particularly in the US and Europe. While it might well roll across those parts of the world, are we likely to see it darken the shores of the Middle East?
