Datasets:
gtfintechlab
/
central_bank_of_egypt

Dataset card Data Studio Files
xet
Community
sentences
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32
375
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year
int64
2.01k
2.02k
__index_level_0__
int64
1
999
meanwhile, annual nonfood inflation declined, supported by broadly stable prices in march 2021 as well as favorable base effects.
dovish
not forward looking
certain
2,021
549
meanwhile, the unemployment rate remained broadly stable at 7.1 percent in 2023 q3.
neutral
not forward looking
certain
2,024
476
the mpc will continue to monitor all economic developments and will not hesitate to adjust its stance in line with its price stability mandate.
neutral
forward looking
certain
2,023
663
the path for future policy rates remains a function of inflation expectations.
neutral
forward looking
certain
2,019
820
despite the monthly decline, the annual rate increased to 9.55 percent in december from 9.07 percent in the previous month on the back of unfavorable base effects from last year.
hawkish
not forward looking
certain
2,012
736
during the first three quarters of 2011/2012, real gdp expanded by 1.8 percent on the back of tentative signs of recovery in the construction sector which was partly suppressed by continuing weaknesses in the manufacturing and tourism sectors.
hawkish
not forward looking
certain
2,012
867
against this background, the mpc judges that the balance of risks surrounding the inflation outlook has tilted to the upside.
hawkish
forward looking
certain
2,024
32
the softening is driven by declining public contribution to economic activity due to the impact of red sea maritime trade disruption on the service sector.
dovish
not forward looking
certain
2,024
990
the mpc closely monitors all economic developments and will not hesitate to utilize all available tools to support the recovery of economic activity, within its price stability mandate.
neutral
forward looking
certain
2,021
676
annual headline inflation in may 2017 fell for the first time since october 2016 to record 29.7 percent compared to 31.5 percent in the preceding month.
dovish
not forward looking
certain
2,017
234
on the other hand, core cpi increased by 0.79 percent in september compared to a decline of 0.23 percent in august, while the annual rate remained largely unchanged at 5.55 percent, on the back of a favorable base effect from the previous year.
hawkish
not forward looking
certain
2,015
833
on the other hand, core cpi inched up by 0.14 percent (m/m) in august after increasing by 1.04 percent in july, bringing the annual rate to 8.97 percent from 9.06 percent recorded in the previous month.
hawkish
not forward looking
certain
2,013
892
annual headline inflation continued to reflect muted inflationary pressures registering below 6 percent since february 2020.
dovish
not forward looking
certain
2,020
472
moreover, concerns related to the global recovery have intensified over the past weeks on the back of heightened worries regarding fiscal challenges facing the euro area along with weaker than anticipated growth rates in a number of advanced economies.
dovish
forward looking
certain
2,011
201
the aforementioned development reflects the sustained pickup of domestic economic activity, as well as the partial impact of a positive base effect.
hawkish
not forward looking
certain
2,021
745
favorable base effects from the strong inflationary episodes in 2023 played a role in bringing inflation rates down in 2024.
dovish
not forward looking
certain
2,024
678
meanwhile, real gdp growth continued to increase slightly to record a preliminary estimate of 5.7 percent in 2019 q2, compared to 5.6 percent in the previous quarter, leading to an estimated growth rate of 5.6 percent for the fiscal year 2018/19, the highest since the fiscal year 2007/08.
hawkish
not forward looking
certain
2,019
959
meanwhile, the unemployment rate registered 7.3 percent in 2021 q2 compared to 7.4 percent during the preceding quarter.
neutral
not forward looking
certain
2,021
710
while inflation has declined worldwide, key central banks have maintained a tight monetary policy stance to ensure that inflation converges to its target level.
hawkish
not forward looking
certain
2,024
159
furthermore, growth continues to be led by private sector economic activity, supported by the positive contributions of trade, agriculture and construction.
hawkish
forward looking
certain
2,023
368
nonetheless, the mpc judges that the current key cbe rates are appropriate given the lagged transmission of the previous rate hike across the economy combined with the mixed balance of risks surrounding the inflation and gdp outlooks at this juncture.
neutral
not forward looking
certain
2,013
185
the spillover to nonfood inflation continued to be strong.
hawkish
not forward looking
certain
2,008
728
meanwhile, annual core inflation declined to 1.5 percent in may 2020 from 2.5 percent in april 2020, the lowest rate on record.
dovish
not forward looking
certain
2,020
735
in the meantime, domestic gdp growth softened during the first half of 2008/09, a consequence of the global economic slowdown.
dovish
not forward looking
certain
2,009
492
in its meeting held on july 6, 2017, the monetary policy committee (mpc) decided to raise the overnight deposit rate, overnight lending rate, and the rate of the central bank of egypt's (cbe) main operation by 200 basis points to 18.75 percent, 19.75 percent, and 19.25 percent, respectively.
hawkish
not forward looking
certain
2,017
505
meanwhile, the unemployment rate recorded 7.4 percent in 2022 q3, slightly up from the 7.2 percent recorded in the previous quarter.
dovish
not forward looking
certain
2,022
168
meanwhile, international prices for oil, food and other commodities have surged to postpandemic highs, with the level of uncertainty increasing regarding their future price trajectories.
hawkish
forward looking
uncertain
2,021
38
excluding effects of transitory shocks, underlying inflation remained somewhat higher than consistent with achieving the cbe’s target, affected by pricesetting behavior in line with annual inflation of 10 percent historically, which has been further magnified recently due to secondround effects of the economic reform measures.
hawkish
not forward looking
certain
2,017
101
nonetheless, the outlook for international commodity prices remains uncertain, as several factors contribute to upside and downside pressures.
neutral
forward looking
uncertain
2,022
233
meanwhile, real gdp grew by a mere 0.3 percent in 2011/2012 q1 a�er a similarly feeble growth of 0.4 percent in 2010/2011 q4, following the significant contraction of 4.3 percent recorded in 2010/2011 q3 due to the poli�cal events in egypt and the region.
dovish
not forward looking
certain
2,012
266
this comes as a continuation of a trend that started in february 2009 whereby shocks related to fruits and vegetables, amplified annual headline inflation, accounting for 54 percent of the 10.8 percent recorded in september 2009.
hawkish
not forward looking
certain
2,009
470
globally, economic growth remains broadly stable, albeit slightly below the prepandemic level.
neutral
not forward looking
certain
2,024
688
labor market data show that the unemployment rate narrowed to 12.5 percent in the quarter ending june 2016 after peaking at 13.4 percent in the quarter ending december 2013, which coincided with lower real unit labor costs since 2015.
hawkish
not forward looking
certain
2,016
707
the current political uncertainty will continue to have ramifications on both consumption as well as investment decisions, adversely weighing on key sectors within the economy.
dovish
forward looking
certain
2,011
278
employment rose, contributing favorably to the continued decline of the unemployment rate to 7.5 percent in 2019 q2, thereby narrowing by almost 6 percentage points from its peak in 2013 q4.
hawkish
not forward looking
certain
2,019
570
while the risks to inflation outlook which the mpc drew attention to in previous statements continue to exist, a detailed assessment of the most recent inflation figures may suggest a tentative moderation.
hawkish
forward looking
uncertain
2,007
670
real gdp growth continued to improve for the fifth consecutive quarter, to record 5.3 percent in december 2017 and an average of 5.0 percent during 2017, the highest since 2010.
hawkish
not forward looking
certain
2,018
675
in view of the above and drawing upon the outcome of previous mpc meetings, the committee judges that current policy rates remain appropriate to maintain the prevailing tight monetary stance until a significant and sustained decline in inflation is realized.
hawkish
forward looking
certain
2,024
144
january 16, 2014 in its meeting held january 16, 2014, the monetary policy committee (mpc) decided to keep the overnight deposit rate, overnight lending rate, and the rate of the cbe's main operation at 8.25 percent, 9.25 percent, and 8.75 percent, respectively.
neutral
not forward looking
certain
2,014
918
inflation excluding fruits and vegetables accumulated in the first six months of 2009 reached 3.1 percent compared to the 11.5 percent accumulated in 2008h1, reflecting the evident change in the inflation dynamics.
dovish
not forward looking
certain
2,009
141
the mpc stresses that achieving a tight monetary stance is a necessary condition to attain 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
263
these developments suggest that the international food price shock might be waning, notwithstanding the uncertainty surrounding the outlook of international commodity prices.
dovish
forward looking
uncertain
2,008
128
excluding revaluation effects, annual broad money growth increased to 22.1 percent in may 2017, mainly due to the recovery of net foreign assets as well as higher loans to the private sector, while the contribution of net claims on the government eased given higher net external and nonbank financing.
hawkish
not forward looking
certain
2,017
607
annual headline inflation in april 2020 was driven by higher annual food contribution, mainly core food items, which more than offset lower annual contribution of nonfood items.
hawkish
not forward looking
certain
2,020
108
available data up to june 2017 confirm that increasing economic growth over the previous three quarters was initially mainly driven by the industrial sector, due to nonpetroleum and petroleum manufacturing as well as natural gas extractions, in addition to the tourism sector.
hawkish
not forward looking
certain
2,017
105
july 26, 2012 in its meeting held on july 26, 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
35
the mpc reiterates that the path of future policy rates remains a function of forecasted inflation.
hawkish
forward looking
certain
2,024
839
however, economic activity is expected to grow at a slower rate than previously projected, given the uncertainty and negative spillovers from the global scene.
dovish
forward looking
uncertain
2,022
537
in light of the above, the mpc decided that current policy rates remain appropriate at this juncture, and will continue assessing the cumulative impact of previously enacted tightening policies and its transmission to the economy in a datadriven manner.
neutral
forward looking
certain
2,023
495
the banking system the egyptian banking system continues to be relatively isolated from the global turbulence as domestic banks have very limited exposure to the failed and stressed global financial institutions.
neutral
forward looking
certain
2,008
979
the mpc will continue to closely monitor all developments in the economy, especially the factors underlying inflation, and will not hesitate to adjust the key cbe rates in either direction, if necessary, to ensure price stability over the mediumterm.
neutral
forward looking
certain
2,005
271
annual headline urban inflation increased to 5.7 percent in august 2021 from 5.4 percent in july 2021, after having accelerated from 4.9 percent in june 2021.
hawkish
not forward looking
certain
2,021
8
both exceptions reflected a delayed impact of the depreciation of the egyptian pound on seasonal items.
dovish
not forward looking
certain
2,017
737
september 16, 2021 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 8.25 percent, 9.25 percent, and 8.75 percent, respectively.
neutral
not forward looking
certain
2,021
523
in their deliberations during the mpc meeting on october 4, the members decided not to raise interest rates, however, with the sentiment to review this decision in its next meeting.
neutral
not forward looking
certain
2,006
968
the elimination of the parallel foreign exchange market is expected to dampen inflation expectations, rein in underlying inflation and accordingly, headline inflation is projected to follow a steadily decelerating path over the medium term.
dovish
forward looking
certain
2,024
279
accordingly, the gradual unwinding of food inflation along with the improvement of inflation expectations suggest that inflation is on a sustained downward trajectory.
dovish
forward looking
uncertain
2,024
853
the annual headline cpi inflation declined to 7.5 percent (y/y) in october and to 6.8 percent in november.
dovish
not forward looking
certain
2,007
899
meanwhile, the unemployment rate recorded 7.2 percent in 2022 q4, down from 7.4 percent in the preceding quarter.
hawkish
not forward looking
certain
2,023
282
headline cpi declined by 0.82 percent in november following the 1.37 percent increase in october which led the annual rate to decelerate to 10.19 percent in november from 11.02 percent in october.
dovish
not forward looking
certain
2,010
758
prudent regulatory surveillance and effective banking supervision, which have been strengthened under the central bank of egypt’s banking sector reform program launched in 2004, have ensured that the egyptian banking system continues to function normally amid the global financial turmoil.
neutral
not forward looking
certain
2,008
375
inflationary pressures continued to recede, as annual headline and core inflation edged downward for the fourth month in a row to reach 27.5 percent and 26.6 percent in june 2024, respectively.
dovish
not forward looking
certain
2,024
937
on the global front, forecasts for key international commodity prices, particularly energy, have been revised upwards compared to forecasts underlying the august 2023 meeting.
hawkish
forward looking
certain
2,023
92
against the above and despite the sharp increase in food prices, nonfood inflation has remained largely subdued since early 2009, implying that underlying inflation pressures arising from the ongoing economic recovery remain contained.
dovish
not forward looking
certain
2,010
371
going forward, economic activity is expected to be supported by the government’s planned structural reforms.
hawkish
forward looking
certain
2,022
190
meanwhile, annual core inflation recorded 2.4 percent in december 2019 compared to 2.1 percent in november 2019, mainly due to higher poultry prices.
hawkish
not forward looking
certain
2,020
546
the cbe has decided to launch regular repurchasing agreements (repo) as part of its monetary policy operational framework on every tuesday starting march 22, 2011.
hawkish
not forward looking
certain
2,011
804
annual real gdp grew by a revised 4.3 percent in 2016/17 q3, strengthening from the 3.8 percent and 3.4 percent recorded in the preceding quarters as well as from the 3.6 percent recorded in 2015/16 q3.
hawkish
not forward looking
certain
2,017
325
given the balance of risks on the inflation and gdp outlooks and the increased uncertainty at this juncture, the mpc judges that the current key cbe rates are appropriate.
neutral
not forward looking
uncertain
2,011
568
nonfood items were the main drivers of inflation during august and september , reflecting the impact of fiscal measures, and offsetting the easing of previous shocks, the decline in food inflation, and favorable base effects.
hawkish
not forward looking
certain
2,024
404
the mpc reiterates that the path of future policy rates remains a function of inflation expectations rather than prevailing rates and will not hesitate to utilize all tools at its disposal to ensure that the policy stance is set at sufficiently restrictive levels that allow for a sustained decline in underlying inflation, and safeguard price stability over the medium term.
hawkish
forward looking
certain
2,024
352
the decline in annual headline urban inflation was driven by lower annual contribution of food items, which more than offset slightly higher annual contribution of nonfood items.
dovish
not forward looking
certain
2,020
866
the current level of inflation and future upside risks are largely explained by transitory costpush factors, while demandside factors continue to pose downside risks to the inflation outlook.
neutral
forward looking
certain
2,016
208
the unification of the exchange rate is crucial, as it facilitates the elimination of foreign exchange backlogs following the closure of the spread between the official and the parallel exchange rate markets.
neutral
forward looking
certain
2,024
679
the increase was mainly due to selected food items, particularly selected fresh vegetables, while the contribution of nonfood items remained broadly contained.
hawkish
not forward looking
certain
2,019
145
june 17, 2021 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 8.25 percent, 9.25 percent, and 8.75 percent, respectively.
neutral
not forward looking
certain
2,021
567
additionally, the unemployment rate recorded 9.2 percent in april 2020, compared to 7.7 and 8.0 percent in 2020 q1 and 2019 q4, respectively.
dovish
not forward looking
certain
2,020
793
given the clear evidence of underlying inflationary pressures, the mpc judges that the balance of risks to the inflation outlook continue to be on the upside and today’s decision is aimed at containing inflation expectations.
hawkish
forward looking
certain
2,008
6
the mpc reiterates that the path of future policy rates remains a function of forecasted inflation rather than prevailing inflation rates.
neutral
forward looking
certain
2,023
329
additionally, higher prices of hydrocarbon products effective june 29, 2017, higher value added taxes effective july 1, 2017, higher electricity prices scheduled for july 2017 as well as other potential regulated price adjustments further increase inflationary pressures.
hawkish
forward looking
certain
2,017
857
looking ahead, annual inflation is expected to be impacted by transitory costpush factors stemming from the economic reform measures before beginning to narrow.
hawkish
forward looking
uncertain
2,016
653
meanwhile, annual core inflation continued to be supported by favorable base effects since march 2017, dropping to 30.6 percent in may from 33.1 percent in february.
dovish
not forward looking
certain
2,017
612
headline cpi increased by 0.63 percent (m/m) in august compared to an increase of 0.71 in july, while the annual rate decelerated to 7.88 percent in august from 8.38 percent in july, supported by a favorable base effect.
dovish
not forward looking
certain
2,015
104
annual headline urban inflation recorded 7.2 percent in january 2020 compared to 7.1 percent in december 2019, as monthly inflation recorded 0.7 percent in january 2020 compared to 0.6 percent in january 2019.
hawkish
not forward looking
certain
2,020
21
furthermore, leading indicators point towards a sustained improvement across most sectors.
neutral
forward looking
uncertain
2,021
517
it is important to underscore that the pick up in international food prices since late 2010 have had limited spillover effects on domestic food prices.
neutral
not forward looking
certain
2,011
514
moreover, policy rates in major economies are expected to remain elevated given persistent inflation rates globally, in line with moderately tight financial conditions.
hawkish
forward looking
certain
2,023
69
annual food inflation increased for the fifth consecutive month to 10.6 percent in september 2021 from 6.6 percent in august 2021.
hawkish
not forward looking
certain
2,021
165
in the meantime, annual core inflation decelerated to 3.8 percent in december 2020 from 4.0 percent in november 2020.
dovish
not forward looking
certain
2,021
301
in its meeting held on september 28, 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 18.75 percent, 19.75 percent, and 19.25 percent, respectively.
neutral
not forward looking
certain
2,017
648
monthly headline dynamics came broadly as expected, reflecting seasonal decline in prices of agricultural products, as well as, higher regulated prices in november 2023.
neutral
not forward looking
certain
2,023
66
in the meantime, investment levels continue to be low despite the relative improvement witnessed in the annual growth rate, which registered 2.50 percent after six quarters of contraction.
dovish
not forward looking
certain
2,014
680
global economic and financial conditions are expected to remain accommodative and supportive of economic activity over the medium term.
neutral
forward looking
uncertain
2,021
900
moreover, the unemployment rate continued to decline to record 8.1 percent in 2019 q1, compared to 8.9 percent in the previous quarter.
hawkish
not forward looking
certain
2,019
450
mindful of the lagged impact of the mpc’s decision to raise key policy rates by an additional 600 basis points, the committee will continue to assess the balance of risks surrounding the inflation outlook with the aim of strengthening credibility and placing inflation on a downward trajectory.
hawkish
forward looking
certain
2,024
68
real gdp growth was primarily driven by the improvement in tourism, agriculture and trade.
hawkish
not forward looking
certain
2,023
700
moreover, leading indicators point towards a sustained strong pickup across most sectors.
hawkish
forward looking
certain
2,021
483
in the meantime, given the heightened uncertainty that faced market par�cipants since early 2011, investment levels remained low.
dovish
not forward looking
certain
2,012
729
international prices for oil have continued to increase, recording the highest level since the outbreak of the pandemic.
hawkish
forward looking
certain
2,022
734
supported by foreign and domestic public investment demand, annual real gdp growth exhibited sustained increases since 2016 q4, recording in 2018 q1 a preliminary estimate of 5.4 percent.
hawkish
not forward looking
certain
2,018
58