{"id":320897,"date":"2021-02-03T13:34:00","date_gmt":"2021-02-03T13:34:00","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=320897"},"modified":"2021-02-03T13:49:55","modified_gmt":"2021-02-03T13:49:55","slug":"hc-securities-expects-cbe-to-keep-interest-rates-on-hold","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2021\/02\/03\/hc-securities-expects-cbe-to-keep-interest-rates-on-hold\/","title":{"rendered":"HC Securities expects CBE to keep interest rates on hold"},"content":{"rendered":"<p>HC Securities &amp; Investment expected the CBE to keep the current interest rates based on its projections for January\u2019s annual headline inflation rate of 5.2 percent, which is near the lower end of the CBE\u2019s new target range of 7 percent (+\/-2 percent).<\/p>\n<p>Following the MPC\u2019s meeting in December, the CBE reset its inflation target to be at 7 percent (\u00b12 percentage points) on average during the fourth quarter of 2022, down from 9 percent (\u00b13 percentage points) on average that was targeted for the same quarter.<\/p>\n<p>The CBE explained the action was made to continue to support macroeconomic stability.<\/p>\n<p>Yet, HC perceived upward interest rate pressures, as was manifested in rising yields and relatively weaker coverage in the last government T-bill and T-bond auctions.<\/p>\n<p>\u201cIn this regard, we note that Egyptian treasuries are now facing higher competition from Turkey, which increased its policy rates by 2 percent (200 bps) on 24 December, taking its 15M treasuries to 15.97 percent, up from an implied rate of 10.66 percent previously\u201d, according to Monette Doss, head of HC\u2019s macro and financials.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>HC Securities &#038; Investment expected the CBE to keep the current interest rates based on its projections for January\u2019s annual headline inflation rate of 5.2 percent, which is near the lower end of the CBE\u2019s new target range of 7 percent (+\/-2 percent).<\/p>\n","protected":false},"author":4,"featured_media":320899,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22,33],"tags":[232],"class_list":["post-320897","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","category-main","tag-hc-securities"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.3 - 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