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Egypt Central Bank Hikes Rates by 100 Basis Points

Egypt's central bank raised key interest rates by 100 basis points, defying analyst expectations for a hold. The unexpected move aims to anchor inflation amid external pressures.

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FILE PHOTO: The new headquarters of the Central Bank of Egypt, at the New Administrative Capital (NAC) in the east of Cairo, Egypt, January 19, 2026. REUTERS/Mohamed Abd El Ghany/File Photo

Egypt raised interest rates by 100 bps on Thursday in its first hike since March 2024. The move defied expectations after the pound hit a record low.