Datasets:
gtfintechlab
/
central_bank_of_egypt

Dataset card Data Studio Files
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Community
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int64
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1
999
the mpc believes that this target path is appropriate to minimize undesirable macroeconomic volatility.
neutral
not forward looking
certain
2,017
265
in its meeting held on june 9, 2011, 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, and the 7day repo at 9.25 percent.
neutral
not forward looking
certain
2,011
374
detailed data for 2023 q1 portray that economic activity was mainly supported by the positive contributions of consumption and net exports.
hawkish
not forward looking
certain
2,023
769
inflation rates benefited from the combined effect of a gradual dissipation of previous shocks supporting a return to normal dynamics; the recent tightening cycle; and a favorable base effect from the strong inflationary episodes in 2023.
dovish
not forward looking
certain
2,024
825
a deeper and more protracted global recession than currently projected presents a downside risk to domestic economic growth.
dovish
forward looking
uncertain
2,008
715
mpc decided to raise key policy rates by 200 bps in its meeting today, the monetary policy committee (mpc) decided to raise the central bank of egypt’s (cbe) overnight deposit rate, overnight lending rate, and the rate of the main operation by 200 basis points to 21.25 percent, 22.25 percent, and 21.75 percent, respectively.
hawkish
not forward looking
certain
2,024
834
the central bank of egypt 2 june 2005
irrelevant
not forward looking
certain
2,005
417
this nascent recovery in economic activity came on the back of tentative signs of recovery in the construction sector.
hawkish
forward looking
certain
2,013
730
on the global front, forecasts for international commodity prices have eased compared to those underlying the previous mpc meeting, but their outlook remains uncertain.
hawkish
forward looking
uncertain
2,023
791
the central bank of egypt decided to keep its overnight deposit rate unchanged at 8.25 percent per annum.
neutral
not forward looking
certain
2,006
881
headline cpi increased by 0.15 percent (m/m) in december following a decline of 1.31 percent (m/m) in november, bringing the annual rate to 4.66 percent from 4.25 percent in the previous month.
hawkish
not forward looking
certain
2,013
752
the discount rate was also raised by 100 bps to 10 percent per annum.
hawkish
not forward looking
certain
2,008
667
the deceleration of inflation implies a return to normal monthly dynamics given the recent tightening cycle, with the receding impact of previous exchange rate and supply shocks.
dovish
forward looking
uncertain
2,024
880
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 11.25 percent, 12.25 percent, and 11.75 percent, respectively.
neutral
not forward looking
certain
2,022
187
real gdp growth recorded a preliminary figure of 0.7 percent during 2020 q3, up from 1.7% during 2020 q2.
hawkish
not forward looking
certain
2,020
535
meanwhile, annual core inflation increased to 2.7 percent in january 2020 compared to 2.4 percent in december 2019.
hawkish
not forward looking
certain
2,020
195
accordingly, inflation dynamics for both july and august 2023 reflect mainly the combined effect of adverse weather conditions further amplifying the seasonal increase in prices of agricultural products, as well as, supply chain disruptions.
hawkish
not forward looking
certain
2,023
356
in its meeting held on september 16, 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
27
in addition, financial conditions broadly stabilized, with several central banks indicating that their inflation may have peaked and potentially started its deceleration path.
dovish
forward looking
uncertain
2,022
555
economic activity remained sluggish in 2012/2013 on the back of weak 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
995
yet, as the recently implemented measures were anticipated, average annual headline inflation is expected to remain in line with the cbe’s target announced in may 2017, namely 13 percent (±3 percent) in 2018 q4.
neutral
forward looking
certain
2,018
99
on the other hand, annual core cpi declined to 7.23 percent in december from 7.44 percent in november, supported by a favorable base effect from the previous year, despite the slight monthly inch up of nonfood prices.
dovish
not forward looking
certain
2,016
882
inflation readings are expected to continue to be affected by unfavorable base effects in the near term.
hawkish
forward looking
uncertain
2,021
504
the mpc judges that a rate hike is warranted to anchor inflation expectations.
hawkish
forward looking
certain
2,016
810
real gdp growth is estimated to have recorded a preliminary figure of 2.8 percent in fiscal year 2020/21, compared to 3.6 percent in the previous fiscal year, reflecting the full year impact of the pandemic’s outbreak and its related containment measures on economic activity.
dovish
not forward looking
certain
2,021
452
the preemptive tightening policy response aims to anchor inflation expectations at the upcoming inflation target of 7 percent (± 2 percentage points) on average by 2024 q4.
hawkish
forward looking
uncertain
2,023
602
against this background, and following the reduction of 300 basis points during the unscheduled mpc meeting on march 16, 2020, the mpc decided that keeping key policy rates unchanged remains consistent with achieving the inflation target of 9 percent (±3 percentage points) in 2020 q4 and price stability over the medium term.
neutral
not forward looking
certain
2,020
631
meanwhile, real gdp picked up slightly in 2013/2014 q2, growing by 1.4 percent compared to the 1.04 percent recorded in the quarter ending september 2013.
hawkish
not forward looking
certain
2,014
410
at the same time, the liberalization of the foreign exchange market in addition to fiscal and structural reform measures are expected to increase potential output growth, which coupled with weaker demand – partly due to tighter monetary conditions – is estimated to partly offset costpush pressures.
neutral
forward looking
certain
2,016
321
in its meeting held on march 23, 2008, the monetary policy committee (mpc) decided to raise the overnight deposit and lending rates by 50 bps to 9.5 percent and 11.5 percent, respectively.
hawkish
not forward looking
certain
2,008
28
consequently, the mpc decided that tightening monetary conditions are warranted in commitment to its pricestability mandate.
hawkish
not forward looking
certain
2,017
951
the discount rate was also raised by 300 basis points to 16.75 percent.
hawkish
not forward looking
certain
2,022
630
moreover, sizable foreign direct investment inflows, substantial improvement in external financing conditions, and their subsequent impact on foreign reserve accumulation, as well as increasing domestic and foreign demand for egyptian pound denominated assets will contribute significantly to price stability.
hawkish
forward looking
certain
2,024
898
while the unfavorable developments in the prices of volatile food items have flattened the disinflation path, they do not characterize the underlying inflationary pressures.
hawkish
not forward looking
certain
2,009
456
consistent with the tighter monetary policy stance, annual reservemoney growth adjusted by overnight deposits and sevenday deposit auctions shrunk to reflect the absorption of excess liquidity via longerterm open market operations.
hawkish
not forward looking
certain
2,017
447
this coincided with the narrowing of the unemployment rate to 12.0 percent in 2016/17 q3 from 12.4 percent and 12.6 percent in the preceding quarters.
hawkish
not forward looking
certain
2,017
499
this was coupled with another decision to cut the discount rate to 9 percent from 10 percent.
dovish
not forward looking
certain
2,006
436
however, the mpc remains concerned about possible propagation of food inflation to nonfood inflation.
hawkish
forward looking
uncertain
2,008
772
this rebound was largely driven by a significant favorable base effect from the respective quarter of 2010/2011 during which economic activity was interrupted following the unfolding political events.
dovish
not forward looking
certain
2,012
644
developments in the external environment show that there has been some firming of international commodity prices, while low global inflation and subdued global growth maintain weak pressures on domestic prices, respectively.
dovish
not forward looking
certain
2,016
213
in its meeting held on september 17, 2009, the monetary policy committee (mpc) decided to cut its overnight deposit rate and overnight lending rate by 25 bps to 8.25 percent and 9.75 percent, respectively.
dovish
not forward looking
certain
2,009
220
annual headline and core inflation continued to decelerate, recording 33.7 percent and 34.2 percent in december 2023, respectively, due to favourable base effects.
dovish
not forward looking
certain
2,024
11
in the meantime, the global financial crisis continues to interrupt the domestic growth momentum, bringing domestic gdp growth in 2008/09 q3 to 4.3 percent compared to 7.1 in 2007/08.
dovish
not forward looking
certain
2,009
806
meanwhile global inflation and economic growth continue to maintain weak pressures on domestic prices, despite their recent recovery.
dovish
forward looking
certain
2,017
249
meanwhile, the unemployment rate recorded 7.2 percent in 2022 q4 compared to 7.4 percent in the previous quarter.
hawkish
not forward looking
certain
2,023
482
on the other hand, core cpi increased marginally by 0.28 percent (m/m) in june, while the annual rate declined to 7.04 percent in june from 7.22 percent in may.
neutral
not forward looking
certain
2,012
389
achieving low and stable inflation over the medium term is a requisite condition to achieve high and sustainable growth rates, as well as supporting real incomes.
hawkish
forward looking
certain
2,022
746
accordingly, monthly core inflation dropped to 2.61 percent in february 2017 after averaging 4.89 percent between november 2016 and january 2017.
dovish
not forward looking
certain
2,017
121
this comes after headline inflation declined to 12.0 percent in december 2018 due to the reversal of the transitory supply shock related to select vegetables.
dovish
not forward looking
certain
2,019
952
however, recent developments indicate higher than expected monthly dynamics and sustained inflationary pressures.
hawkish
forward looking
certain
2,024
231
this comes on the back of a marked decline in international food prices and the softening of domestic inflationary pressures.
dovish
not forward looking
certain
2,008
129
this was largely driven by the continued phasing out of last year’s supply shocks.
irrelevant
not forward looking
certain
2,007
36
continued weaknesses in the manufacturing and tourism sectors weighed heavily on gdp growth during 2011/2012 which suppressed the tenta�ve signs of recovery in the construction sector.
dovish
not forward looking
certain
2,012
76
however, inflationary demand pressures from the current economic growth continues to be a concern.
hawkish
not forward looking
certain
2,007
41
the mpc decision was a result of differing inflationary signals.
neutral
not forward looking
certain
2,007
479
while the slowdown in economic growth has been limiting upside risks to the inflation outlook, there are possible upward pressures on inflation going forward.
hawkish
forward looking
uncertain
2,013
387
in addition, annual core inflation, which excludes volatile food and regulated items, continued its upward trend to record 11.9 percent in april 2022, from 10.1 percent in march 2022, its highest level since april 2018.
hawkish
not forward looking
certain
2,022
96
against this background, and following the cumulative reduction of 350 basis points over the previous three mpc meetings, the mpc decided that keeping key policy rates unchanged remains consistent with achieving the inflation target of 9 percent (±3 percentage points) in 2020 q4 and price stability over the medium term.
neutral
forward looking
certain
2,020
463
the monetary policy committee (mpc) decided to cut the central bank of egypt’s (cbe) overnight deposit rate, overnight lending rate, and the rate of the main operation by 50 basis points to 8.75 percent, 9.75 percent, and 9.25 percent, respectively.
dovish
not forward looking
certain
2,020
360
during october 2017, annual headline and core inflation declined for the third consecutive month to record 30.8 percent and 30.5 percent, after peaking in july 2017 at 33.0 percent and 35.3 percent, respectively.
dovish
not forward looking
certain
2,017
609
domestic inflation and economic growth for the first time since november 2007, annual headline cpi inflation declined to 21.5% in september compared to 23.6% in august, as domestic food inflation has fallen from 31% to 25.6%.
dovish
not forward looking
certain
2,008
618
the mpc had acted preemptively in its extraordinary meeting on november 3, 2016 by raising the key cbe rates 300 basis points in anticipation of the inflationary pressures.
hawkish
not forward looking
certain
2,016
871
the decline of annual food inflation was mostly driven by fresh vegetables.
dovish
not forward looking
certain
2,019
971
growth was driven by domestic demand, while net external demand contributed negatively.
neutral
not forward looking
certain
2,016
82
the quarter ending june 2014 has witnessed a notable slowdown in the prices of several food items which have been reflected in the tame monthly growth rates of both headline and core inflation.
dovish
not forward looking
certain
2,014
3
meanwhile, annual headline inflation registered 31.46 percent.
hawkish
not forward looking
certain
2,017
552
monthly headline inflation in january 2020 was mainly driven by higher food prices as well as by higher nonfood prices but with a lesser extent.
hawkish
not forward looking
certain
2,020
355
looking ahead, unfolding global economic developments have created uncertainty about the nascent global recovery, which could potentially weigh on domestic investment and external demand.
dovish
forward looking
uncertain
2,010
19
updated leading indicators for q2 2024 indicate that real gdp growth has started to pick up and is expected to gradually recover as of fiscal year 2024/25, following a marked slowdown in fiscal year 2023/24.
hawkish
forward looking
uncertain
2,024
551
on the other hand, core cpi increased by 0.97 percent (m/m) in april compared to 0.51 percent (m/m) in march, bringing the annual rate to 7.47 percent in april from 7.03 percent in march.
hawkish
not forward looking
certain
2,013
557
in its meeting held on june 18, 2009, the monetary policy committee (mpc) decided to cut its overnight deposit rate by 50 bps to 9 percent and the overnight lending rate by 50 bps to 10.5 percent.
dovish
not forward looking
certain
2,009
468
real gdp growth stabilized, recording a preliminary estimate of 5.6 percent in 2019 q3, after recording 5.6 percent in fiscal year 2018/19, the highest growth since fiscal year 2007/08.
neutral
not forward looking
certain
2,019
474
the headline cpi jumped to 10.5 percent in january and accelerated further to 12.1 in february, 2008, exceeding the central bank’s comfort zone.
hawkish
not forward looking
certain
2,008
343
annual headline and core inflation rates continued to decline to record 14.4 percent and 11.9 percent in february 2018, after peaking in july 2017 at 33.0 percent and 35.3 percent, respectively.
dovish
not forward looking
certain
2,018
228
achieving low and stable inflation over the medium term is a prerequisite condition to achieve high and sustainable growth rates, as well as supporting real incomes.
hawkish
forward looking
certain
2,022
332
annual headline urban inflation recorded 7.1 percent in december 2019 compared to 3.6 percent in november 2019, as monthly inflation recorded negative 0.2 percent in december 2019 compared to negative 3.4 percent in december 2018.
hawkish
not forward looking
certain
2,020
2
global economic activity continues to recover from the covid19 pandemic, but has shown some signs of slowdown due to global supply chain disruptions.
dovish
forward looking
certain
2,022
166
moreover, increases in the prices of inland transportation, fresh vegetables & fruits and other food items can be partly attributed to the indirect effects of the regulated price adjustments as well as the seasonal effect of ramadan.
hawkish
not forward looking
certain
2,014
641
nonetheless, inflation is expected to decline significantly in q1 2025 due to the cumulative impact of monetary policy tightening and favorable base effect.
hawkish
forward looking
uncertain
2,024
484
in view of the above, and the previous mpc decisions to raise key policy rates by a cumulative 800 basis points in q1 2024, the committee judges that the current monetary stance remains appropriate to place inflation on a declining trend, and will continue to assess its transmission to the economy in a datadriven manner.
hawkish
not forward looking
certain
2,024
651
therefore, in accommodation of the firstround effects of supply shocks, the elevated annual headline inflation rate will be temporarily tolerated relative to the cbe’s preannounced target of 7 percent (±2 percentage points) on average in 2022 q4, before declining thereafter.
dovish
forward looking
certain
2,022
782
the overall loanstodeposit ratio is around 55 percent, with a high proportion of assets being short term and liquid.
hawkish
not forward looking
certain
2,008
854
the discount rate was also kept unchanged at 19.25 percent.
neutral
not forward looking
certain
2,017
902
the latest monthly developments in both headline and core were largely driven by favorable movements in food prices while non‐food prices remained broadly tame.
dovish
not forward looking
certain
2,012
1
the central bank of egypt decided to raise its overnight deposit by 50 bps to 10.5 percent per annum.
hawkish
not forward looking
certain
2,008
923
domestically, real gdp growth moderated to 2.2 percent in q1 2024 from 2.3 percent in the previous quarter, mainly reflecting negative spillovers from geopolitical tensions and maritime trade disruptions to the services sector.
dovish
not forward looking
certain
2,024
958
the headline cpi inflation showed a modest acceleration in june, reaching 20.2% as domestic food inflation was broadly unchanged.
hawkish
not forward looking
certain
2,008
809
headline cpi increased by 0.99 percent (m/m) in january compared to a decline of 0.07 percent (m/m) in december.
hawkish
not forward looking
certain
2,015
180
domestically, domestic inflation rates continued to hold at moderate levels.
neutral
not forward looking
certain
2,006
874
real gdp growth recorded a preliminary figure of 0.7 percent during 2020 q3, up from 1.7 percent during 2020 q2.
hawkish
not forward looking
certain
2,021
346
in addition, recently reintroduced covid19 lockdowns in china have raised concerns about exacerbating existing global supplychain disruptions.
dovish
forward looking
uncertain
2,022
856
in its meeting held on december 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
765
incoming data continued to confirm the moderation of underlying inflationary pressures, notwithstanding the expected impact of unfavorable base effects on near-term inflation rates due to the reversal of the transitory shock to prices of fresh vegetables in the previous year.
dovish
forward looking
certain
2,019
975
rising international commodity prices resulting from further supply chain disruptions in addition to increased riskoff sentiment have added to domestic inflationary pressures as well as external imbalances.
hawkish
not forward looking
certain
2,022
643
along the near outlook horizon, economic activity is expected to record robust growth figures, driven by domestic demand, which will also be impacted by favorable baseeffects.
hawkish
forward looking
uncertain
2,021
800
the slowdown in economic activity is mainly attributed to the declining contribution of the manufacturing sector.
dovish
not forward looking
certain
2,024
188
annual headline urban inflation inched up to 4.5 percent in february 2021 from 4.3 percent in january 2021, after having decelerated from 5.4 percent in december 2020.
hawkish
not forward looking
certain
2,021
671
additionally, prospects of global economic recovery remain contingent on the efficacy of vaccines and the ability of countries to contain the spread of the virus, in light of the emergence of new variants.
neutral
forward looking
uncertain
2,022
471
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, supported by lower real unit labor costs relative to productivity.
hawkish
not forward looking
certain
2,016
533
the mpc judges that inflation rates are likely to peak in the second half of 2023 before beginning a disinflation path towards the cbe’s preannounced targets afterwards, supported by the cumulative monetary policy tightening to date.
hawkish
forward looking
uncertain
2,023
113