Datasets:
gtfintechlab
/
central_bank_of_egypt

Dataset card Data Studio Files
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Community
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999
in addition, the recent economic developments reveal that the pick up in economic growth has accelerated in late 2004/05 and early 2005/06.
hawkish
not forward looking
certain
2,006
157
headline cpi increased by 2.50 percent (m/m) in february following an increase of 1.69 percent (m/m) in january.
hawkish
not forward looking
certain
2,013
269
furthermore, the unemployment rate recorded 7.3 percent in 2020 q3, the lowest rate on record, and down from 9.6 percent in 2020 q2.
hawkish
not forward looking
certain
2,020
336
october 18, 2012 in its meeting held on october 18, 2012, the monetary policy commi�ee (mpc) decided to keep the overnight deposit rate and overnight lending rate unchanged at 9.25 percent and 10.25 percent, respec�vely, and the 7‐day repo at 9.75 percent.
neutral
not forward looking
certain
2,012
586
this was mainly attributed to an increase in employment compared to the previous quarter.
hawkish
not forward looking
certain
2,023
908
the mpc has witnessed trends exerting pressures on the various price indices which have been instigated by the continued acceleration in economic growth, particularly in manufacturing and real estate sectors and second round effects from the july fuel price hike.
hawkish
not forward looking
certain
2,006
14
in the meantime while prices of fresh vegetables inchedup, prices of other food items continued to decelerate supported by the decline in international prices, notwithstanding the seasonal pickup in september due to eid aladha.
neutral
not forward looking
certain
2,014
582
headline cpi increased by 0.68 percent (m/m) in march compared to a decline of 1.03 percent (m/m) in february, bringing the annual rate to 9.82 percent in march up from 9.76 percent recorded in the previous month.
hawkish
not forward looking
certain
2,014
293
moreover, despite tentative signs that the worst of the global downturn may be over, consensual projections point to a sluggish and uneven global economic recovery in 2010.
dovish
forward looking
certain
2,009
34
against the above background, underlying inflation pressures arising from the ongoing economic recovery remain contained.
neutral
not forward looking
certain
2,011
706
globally, economic activity remained weak despite some recovery, international oil prices broadly stabilized, and global financial conditions continued to improve, supported mainly by policy measures despite the ongoing uncertainty.
dovish
not forward looking
certain
2,020
326
it is important to underscore that if the latest pick up in international food prices proves to be persistent this would pose an upside risk to the inflation outlook along with the re‐emergence of local supply bottlenecks and distortions in the distribution channels.
hawkish
forward looking
uncertain
2,012
886
there are encouraging signs that the global slowdown has stabilized somewhat over recent months and the outlook for the international economy appears to have improved as well.
neutral
forward looking
uncertain
2,009
682
the central bank of egypt decided to raise its overnight deposit rate by 25 bps to 9 percent per annum.
hawkish
not forward looking
certain
2,008
931
at this juncture, and given the expected lagged effect from the previous interest rate hike, the mpc judges that the key cbe rates are currently appropriate given the balance of risks surrounding the inflation and gdp outlooks.
neutral
not forward looking
certain
2,016
181
the continuation of these market imperfections, in addition, to an unanticipated rebound in international food prices pose upside risks to the inflation outlook.
hawkish
forward looking
certain
2,011
80
as incoming data continues to confirm the moderation of inflation expectations, the reduction of policy rates in today’s mpc meeting provides appropriate support to economic activity, while remaining consistent with achieving price stability over the mediumterm.
dovish
forward looking
certain
2,020
497
after evaluating the balance of risks surrounding the inflation outlook to date, the mpc judges that a rate hike is warranted to anchor inflation expectations over the mediumterm.
hawkish
forward looking
certain
2,016
63
this process was supported by the combination of previous policy rate increases and the recent stability of the egyptian pound against tradingpartner currencies.
neutral
not forward looking
certain
2,017
79
the committee will not hesitate to utilize all its available tools to ensure that the policy stance is set at sufficiently restrictive levels with the aim of attaining the cbe’s upcoming inflation targets of 7 percent (± 2 percentage points) on average by 2024 q4 and 5 percent (± 2 percentage points) on average by 2026 q4.
hawkish
forward looking
certain
2,023
406
meanwhile, annual core inflation declined to 1.9 percent in february 2020 from 2.7 percent in january 2020, the lowest rate on record.
dovish
not forward looking
certain
2,020
786
the cbe remains committed to take all actions necessary to ensure price stability over the medium term.
neutral
forward looking
certain
2,005
311
however, annual broad money growth has also increased excluding revaluation effects due to the recovery of net foreign assets, evident by the cbe's international reserve accumulation, as well as higher loans to the private sector in domestic currency.
hawkish
not forward looking
certain
2,017
986
real gdp growth recorded a preliminary figure of 2.0 percent during 2020 q4, up from 0.7 percent during the previous quarter.
hawkish
not forward looking
certain
2,021
821
monthly headline inflation in august 2016 came mainly due to higher prices of regulated items, primarily electricity, in addition to increases in prices of fresh vegetables and seasonal increases in prices of red meat associated with eidaladha.
hawkish
not forward looking
certain
2,016
33
in its monthly meeting held on february 16, 2006, the monetary policy committee (mpc) decided to maintain the overnight deposit and lending rates at 8.25 percent and 10.25 percent, respectively.
neutral
not forward looking
certain
2,006
296
meanwhile, real gdp growth continued to improve for the fifth consecutive quarter to record 5.3 percent in december 2017 and 5.0 percent during 2017, the highest economic growth since 2010.
hawkish
not forward looking
certain
2,018
62
while the probability of a rebound in international food prices is less likely now in light of recent global developments, the re‐emergence of local supply bottlenecks and distortions in the distribution channels pose upside risks to the inflation outlook.
hawkish
forward looking
certain
2,012
211
given the above, real gdp growth is expected to soften further in fy 2023/24 compared to the previous fiscal year.
dovish
forward looking
certain
2,024
339
for the third consecutive month, the increase in food inflation came due to higher prices of volatile food items as opposed to core food items in earlier months.
hawkish
not forward looking
certain
2,023
542
furthermore, monthly headline inflation was affected by retail items, particularly seasonal increases in the prices of clothing and footwear associated with the eidalfitr festivities.
hawkish
not forward looking
certain
2,016
56
against this background, the mpc decided that raising policy rates is necessary to contain inflationary pressures which is consistent with achieving price stability over the medium term.
hawkish
forward looking
certain
2,022
396
the central bank of egypt decided to raise its overnight deposit by 50 bps to 11 percent per annum.
hawkish
not forward looking
certain
2,008
768
moreover, the unemployment rate decreased to 7.3 percent in 2020 q3, down from 9.6 percent in 2020 q2.
hawkish
not forward looking
certain
2,021
628
in the meantime, annual core cpi registered 6.9 percent in february down from the 7.39 percent in january and remains within the cbe's comfort zone.
dovish
not forward looking
certain
2,010
764
mpc decided to keep key policy rates unchanged in its meeting today, the monetary policy committee (mpc) decided to keep the central bank of egypt’s (cbe) overnight deposit rate, overnight lending rate, and the rate of the main operation unchanged at 18.25 percent, 19.25 percent, and 18.75 percent, respectively.
neutral
not forward looking
certain
2,023
545
on the global front, forecasts for the global economic activity have dampened due to spillover effects from the conflict between russia and ukraine.
dovish
forward looking
certain
2,022
340
meanwhile, international oil prices have continued to pick up largely due to supply side developments.
hawkish
forward looking
certain
2,021
742
additionally, real gdp growth is expected to remain on an accelerating trajectory, which is partially base effect driven from last year’s shrunken base.
hawkish
forward looking
certain
2,021
30
widespread inflationary pressures remain elevated, continuing to impact pricing and consumption behaviours.
hawkish
forward looking
certain
2,024
657
headline cpi increased by 1.57 percent (m/m) in september compared to an inch up of 0.68 percent in august, bringing the annual rate to 10.15 percent in september from 9.74 percent in august.
hawkish
not forward looking
certain
2,013
241
economic activity remained sluggish in 2012/2013 on the back of modest growth rates in most of the key sectors, namely manufacturing, construction and tourism, in addition to the contraction in the petroleum sector.
dovish
not forward looking
certain
2,013
324
risks from the global economy are crude oil price developments and the pace of tightening financial conditions.
hawkish
forward looking
certain
2,018
725
a significant decline in inflation is anticipated in h1 2025 due to the cumulative impact of monetary policy tightening and favorable base effects.
hawkish
forward looking
certain
2,024
449
february 2, 2012 in its meeting held on february 2, 2012, the monetary policy committee (mpc) decided to keep the overnight deposit rate and overnight lending rate unchanged at 9.25 percent 10.25 percent, respectively, and the 7‐day repo at 9.75 percent.
neutral
not forward looking
certain
2,012
407
against this background, the mpc decided to raise key policy rates by 300 bps to contain inflationary pressures and to steer annual headline inflation rates towards its upcoming targeted levels.
hawkish
forward looking
certain
2,022
53
the increase in annual inflation since the beginning of 2022 is emanating predominately from supply side issues particularly international commodity prices.
hawkish
not forward looking
certain
2,022
200
nevertheless, there are several risks surrounding the baseline inflation outlook, notably the evolution of inflation expectations, demandside pressures as well as the magnitude of any subsidyreform measures and their secondround effects.
hawkish
forward looking
certain
2,017
97
annual headline urban inflation declined to 5.3 percent in february 2020 from 7.2 percent in january 2020, supported by favorable base effect as well as contained underlying inflationary pressures.
dovish
not forward looking
certain
2,020
150
in its meeting held on january 28, 2016, the monetary policy committee (mpc) decided to keep the overnight deposit rate, overnight lending rate, and the rate of the cbe's main operation unchanged at 9.25 percent, 10.25 percent, and 9.75 percent, respectively.
neutral
not forward looking
certain
2,016
194
against this background, the mpc judges that keeping the policy rate unchanged this time is needed to support disinflation.
neutral
not forward looking
certain
2,008
747
looking ahead, while investments in domestic mega projects are expected to contribute to economic growth, the downside risks that surround the global economy on the back of challenges facing the euro area and the softening growth in emerging markets could pose downside risks to domestic gdp.
dovish
forward looking
uncertain
2,015
310
concurrently, there were additional price pressures from the ongoing strong economic growth.
hawkish
not forward looking
certain
2,008
7
in november 2020, it reflected a transitory supply shock in tomatoes.
dovish
not forward looking
certain
2,020
805
given the mixed balance of risks surrounding the inflation and gdp outlooks at this juncture, mpc judges that the current key cbe rates are appropriate.
neutral
not forward looking
certain
2,013
390
the continued increase in the prices of volatile food items explain the bulk of monthly headline cpi developments and has widened the divergence between the headline and core inflation rates.
hawkish
not forward looking
certain
2,015
245
in its meeting held on march 26, 2009, the monetary policy committee (mpc) decided to cut the overnight deposit and overnight lending rates by 50 bps to 10 percent and 12 percent, respectively.
dovish
not forward looking
certain
2,009
18
since the beginning of calendar year 2022, annual food inflation was mainly driven by core food inflation.
hawkish
not forward looking
certain
2,022
341
as headline inflation for october 2018 has been affected by a higherthanforecasted increase in the prices of fresh vegetables, there is an upside risk of a slight deviation from the inflation target announced in may 2017, which records 13 percent (±3 percent) on average during 2018 q4.
hawkish
forward looking
certain
2,018
286
additionally, most leading indicators point towards a slowdown of real gdp growth in 2023 q1.
dovish
forward looking
certain
2,023
461
in accordance with the cbe’s resolve to achieve price stability over the medium term and in line with the preannounced disinflation target path, the mpc has set its upcoming inflation targets at 7 percent (± 2 percentage points) on average by 2024 q4 and 5 percent (± 2 percentage points) on average by 2026 q4.
hawkish
forward looking
certain
2,022
656
domestic economic activity continued to expand in 2022 q1, albeit at a slower pace, registering a preliminary growth figure of 5.4 percent, compared to 8.3 percent in 2021 q4.
hawkish
not forward looking
certain
2,022
363
nevertheless, global inflationary pressures began to build after the world economy emerged from the disruptions caused by the covid19 pandemic.
hawkish
not forward looking
certain
2,022
940
the annual rate accelerated to 13.19 percent in may from 10.96 percent in april, partly due to the unfavorable base effect from last year.
hawkish
not forward looking
certain
2,015
649
the committee will continue to judge the balance of risks surrounding the inflation outlook with the aim of achieving price stability over the medium term.
neutral
forward looking
certain
2,024
15
in its meeting held on february 16, 2017, the monetary policy committee (mpc) decided to keep the overnight deposit rate, overnight lending rate, and the rate of the central bank of egypt's (cbe) main operation unchanged at 14.75 percent, 15.75 percent, and 15.25 percent, respectively.
neutral
not forward looking
certain
2,017
342
to this end, the cbe is committed to continue the transition to a flexible inflation targeting regime.
hawkish
forward looking
certain
2,024
798
headline cpi increased by 0.84 percent (m/m) in june compared to a decline of 0.73 percent (m/m) in may while the annual rate remained broadly unchanged at 8.20 percent in june.
hawkish
not forward looking
certain
2,014
873
in its meeting held on january 15, 2015, the monetary policy committee (mpc) decided to cut the overnight deposit rate, overnight lending rate, and the rate of the cbe's main operation by 50 basis points to 8.75 percent, 9.75 percent, and 9.25 percent, respectively.
dovish
not forward looking
certain
2,015
123
consequently, upward adjustments in administered prices and increases in the prices of volatile food items have recently widened the divergence between the headline and core inflation rates.
hawkish
not forward looking
certain
2,015
906
while the fiscal consolidation will improve the fiscal sustainability over the mediumterm, a relative price increase is inevitable.
hawkish
forward looking
certain
2,014
722
the discount rate was also raised by 200 bps to 18.75 percent.
hawkish
not forward looking
certain
2,023
110
additionally, sectoral growth continued to pick up, as detailed data up to 2021 q1 showed that it remains supported by the positive contributions of trade, construction, and communications, as well as natural gas extractions.
hawkish
not forward looking
certain
2,021
31
moreover, while the prices of food items decelerated in august, there was a seasonal pick up in september which coincided with eid eladha.
neutral
not forward looking
certain
2,014
664
however, increasing geopolitical tensions in the region have raised uncertainty surrounding the inflation outlook, particularly concerning energy prices.
hawkish
forward looking
uncertain
2,023
720
meanwhile, the unemployment rate stabilized at 7.5 percent in 2021 q3, compared to 7.3 percent during the preceding quarter.
neutral
not forward looking
certain
2,021
521
in the meantime, the impact of the russoukrainian war on the prices of wheat, wheat derivatives, and other food commodities, in addition to the continued seasonal inflationary impact of ramadan, and the occurrence of multiple holidays during april 2022, increased the prices of the rest of the core food products.
hawkish
not forward looking
certain
2,022
175
meanwhile, real gdp picked up slightly in 2013/2014 q3, growing by 2.50 percent compared to the 1.04 and 1.44 percent recorded in the previous two quarters, respectively.
hawkish
not forward looking
certain
2,014
392
annual headline cpi jumped to 11.08 percent in november from 9.70 percent in october, partly on the back of unfavorable base effect from last year, while core inflation increased to 7.44 percent from 6.26 percent in october.
hawkish
not forward looking
certain
2,015
817
the declining trend in international food prices suggest that the international food price shock might be waning.
dovish
forward looking
uncertain
2,008
953
real monetary conditions continued to tighten, a necessary requirement for disinflation.
hawkish
not forward looking
certain
2,017
328
the mpc reiterates that the path of future policy rates remains a function of forecasted inflation rather than prevailing inflation rates and will continue to assess the balance of risks surrounding the inflation outlook.
neutral
forward looking
certain
2,023
126
headline and core annual inflation rates thereby registered the lowest rates since october 2016 and september 2016, respectively.
dovish
not forward looking
certain
2,018
4
while nonfood prices increased by 1.68 percent and 0.36 percent in october and november, respectively, these increases have been largely seasonal, associated with the beginning of the school year in october and eid festivities in november.
hawkish
not forward looking
certain
2,010
889
in its meeting held on june 11, 2015, the monetary policy committee (mpc) decided to keep the overnight deposit rate, overnight lending rate, and the rate of the cbe's main operation unchanged at 8.75 percent, 9.75 percent, and 9.25 percent, respectively.
neutral
not forward looking
certain
2,015
989
this, in turn, remains to be a key upside risk to the domestic inflation outlook which is exacerbated by downward price rigidities in domestic markets.
hawkish
forward looking
certain
2,008
726
meanwhile, the unemployment rate stabilized at 7.3 percent in 2021 q2 compared to 7.4 percent in 2021 q1.
neutral
not forward looking
certain
2,021
414
the central bank of egypt decided to keep its overnight deposit rate unchanged at 9 percent per annum.
neutral
not forward looking
certain
2,005
965
on the other hand, core cpi increased by 0.76 percent in march compared to 1.10 percent in february, while the annual rate inched up to 7.21 percent in march after registering 7.15 percent in february.
hawkish
not forward looking
certain
2,015
661
meanwhile, real gdp jumped significantly in 2014/15 q1, registering at 6.8 percent the highest annual growth rate since 2007/08 q4.
hawkish
not forward looking
certain
2,015
9
in addition, july’s annual core inflation which excludes volatile food and regulated items recorded 15.6 percent in july 2022 from 14.6 percent during the previous month.
hawkish
not forward looking
certain
2,022
197
annual headline urban inflation decelerated to 5.4 percent in december 2020 from 5.7 percent in november 2020.
dovish
not forward looking
certain
2,021
435
in the meantime, annual core inflation increased only slightly to 4.0 percent in november 2020 from 3.9 percent in october 2020.
neutral
not forward looking
certain
2,020
553
on the global front, forecasts for key international commodity prices, particularly energy, have been revised upwards compared to the forecasts underlying the previous meeting, mainly due to rising geopolitical tensions in the region.
dovish
forward looking
uncertain
2,023
887
however, the annual inflation rates are expected to remain high until the base effect from the previous price increases related to the supply shocks and administered price adjustments level off.
hawkish
forward looking
certain
2,007
160
headline inflation registered 1.69 percent (m/m) in april 2017, recording its third consecutive decline due to fading costpush pressures after averaging 4.01 percent (m/m) between november 2016 and january 2017.
dovish
not forward looking
certain
2,017
637
annual headline inflation rates were affected by favorable and then unfavorable base effects during april and may 2021, reflecting the early impact of the outbreak of covid19 and its related containment measures on inflation readings during 2020.
neutral
not forward looking
certain
2,021
950
therefore, the mpc concurs that the current key cbe rates coupled with the increased required reserve ratio are consistent with achieving price stability over the medium term.
hawkish
forward looking
certain
2,022
799
in its meeting held on november 4, 2010, the monetary policy committee (mpc) decided to keep the overnight deposit rate and overnight lending rate unchanged at 8.25 percent and 9.75 percent, respectively.
neutral
not forward looking
certain
2,010
88
the committee notes that the future path of inflation remains a function of the cumulative tightening in its stance to date and the lag with which monetary policy tools operate.
hawkish
forward looking
certain
2,022
487