Central Bank of Egypt
Firmer Long-Term Interest Rates as End-2024 Approaches
December 27, 2024
With markets reopening in Europe, ten-year sovereign debt yields have risen eight basis points in each of the four largest economies in the euro zone and by seven bps in Great Britain. The 10-year U.S. Treasury yield is likewise eight basis points above its week-earlier level and three bps firmer than yesterday. The 10-year Japanese […] More
Central Bank of Egypt and Bank of Uganda Hike Their Interest Rates
March 6, 2024
Central banks in Egypt and Uganda raised their interest rates earlier today. Although Egyptian consumer price inflation decelerated from 38% in September to 29.8% four months later, officials at the Central Bank of Egypt raised their interest rate by 200 basis points in February and augmented that action at an unscheduled meeting today by a […] More
Awaiting U.S. Jobs Data and Digesting Another Batch of PMI Results
November 3, 2023
Financial markets are marking time ahead of the U.S. Labor Dept’s October employment situation. The expectations is for a much smaller rise in jobs than in September. This month, like the last one, the ADP estimate of private sector employment pointed to tepid jobs growth. It didn’t turn out that way, but analysts doubt there […] More
Heaviest Data Release Day of the Week Before Christmas Yields Mixed Results
December 23, 2022
The dollar traded lower by 0.6% against the kiwi, 0.5% versus the Australian dollar, 0.4% vis-a-vis the loonie, and 0.2% relative to the euro but has also risen by 0.4% against the yen, 0.3% vis-a-vis stereling and 0.1% against the yuan and Swiss franc. Ten-year sovereign debt yields are up five basis points in the […] More
First Egyptian Central Bank Rate Hike in Nearly Five Years
March 21, 2022
At an unscheduled meeting, monetary officials in Egypt raised their overnight deposit rate by a full percentage point to 9.25%. That was its first tightening since a hike to 18.75% from 16.75% in July 2017 and the first rate change since a pair of 50-basis point reductions in September and November 2020. At the outset […] More
China Plane Crash, Japanese Holiday, No Let-Up in Ukraine Clash, and a Percentage Point Hike in Egypt’s Central Bank Interest Rate
March 21, 2022
The dollar rose overnight by 0.4% against sterling and the Aussie dollar, 0.2% versus the Canadian dollar, 0.2% relative to the Canadian dollar, and 0.1% against the Swiss franc, euro, peso, and Turkish lira. With Japanese domestic markets closed for the Vernal Equinox, dollar/yen has remained steady. Capital controls continue to stabilize the Russian ruble […] More
Christmas 2020
December 25, 2020
Among the very few markets open today, share prices rose 1.0% in China, 0.8% in Thailand, 0.4% in Taiwan and Turkey, but closed unchanged in Japan. The 10-year Japanese JGB yield edged a basis point higher, and WTI oil firmed 0.2%. The dollar is unchanged against the euro and yen, down 0.2% versus the peso […] More
