VOL. XLIV

No. 18

30-April-2001

EGYPT

Egypt Cuts Discount Rate 50Bps But Monetary Policy Still Threatens Growth

The announcement by the Central Bank of Egypt (CBE) that it had cut its discount rate by 50bps as of 26 April, following an earlier rate cut of the same amount on 18 April, has once again put Egyptian monetary policy under the spotlight and along with it prospects for the economy as a whole. For the time being, and despite concerns about Turkish contagion, the situation is not a crisis....