31
Mar
09:38
Egypt steel demand seen suffering following interest hike
Egypt's Monetary Policy Committee (MPC) has raised key policy rates by 200 base points (bps). A similar decision was taken in December, with 300 bps hikes. Local steelmakers point out the move spells bad news for Egyptian investment and steel consumption.
The overnight deposit rate, the overnight lending rate and the main operations rate are now at 18.25%, 19.25% and 18.75%, respectively, following the hike. 200 basis points were also added to the discount rat…
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Anonymous
Very good overview of the weekly steel market.
Anonymous