Egypt hikes interest rates by 2 pct to contain inflation

**This is a 60-seconds sample of the video. For the full version, please contact us.**

Egypt hikes interest rates by 2 pct to contain inflation

STORY: Egypt hikes interest rates by 2 pct to contain inflation DATELINE: March 31, 2023 LENGTH: 0:00:57 LOCATION: CAIRO CATEGORY: ECONOMY SHOTLIST: 1. various of the Central Bank of Egypt 2. various of an accountant counting banknotes 3. various of the National Bank of Egypt 4. various of Banque Misr STORYLINE: Egypt's Monetary Policy Committee (MPC) decided to raise the interest rates of the Central Bank of Egypt (CBE) by 200 basis points in a new bid to contain high inflation, the CBE said on Thursday. The deposit and lending rates were raised to 18.25 percent and 19.25 percent, respectively, while the rate of the main operation and the discount rate were increased to 18.75 percent, the CBE said in a statement. Egypt has been struggling to contain rising inflation over the past years, amid a shortage of foreign currency caused by the global economic repercussions of the COVID-19 pandemic and the Russia-Ukraine conflict. Egypt's annual urban headline inflation increased to a record high of 25.8 p

  • Product Code
  • ILEA001257812
  • Registered date
  • 2023/3/31 00:00:00
  • Credit
  • Xinhua / Kyodo News Images
  • Media source
  • Xinhua News Agency.All Rights Reserved
  • Media size
  • 1920 × 1080 pixel
  • Deployment size
  • 58.02(MB)*
  • Special instruction

*File size when opened in Photoshop, etc.

Similar Images & Videos

    U.S. Fed keeps interest rates unchanged at 5.25-5.5 pct as inflation cools

    STORY: U.S. Fed keeps interest rates unchanged at 5.25-5.5 pct as inflation cools SHOOTING TIME: June 12, 2024 DATELINE: June 13, 2024 LENGTH: 00:01:26 LOCATION: Washington D.C. CATEGORY: ECONOMY SHOTLIST: 1. various of the press conference STORYLINE: The U.S. Federal Reserve on Wednesday left interest rates unchanged at a 22-year high of 5.25 percent to 5.5 percent as the latest consumer price data shows that inflation seems to be cooling. In a statement after the two-day policy meeting, the Federal Open Market Committee (FOMC), the Fed's policy-setting body, reiterated that the committee does not expect it will be appropriate to reduce the target range "until it has gained greater confidence that inflation is moving sustainably toward 2 percent." In addition, the committee will continue reducing its holdings of Treasury securities and agency debt and agency mortgage-backed securities, the FOMC said. The Fed's announcement came just a few hours after the U.S. Labor Department reported that the

      Turkish central bank keeps policy rate unchanged at 50 pct

      STORY: Turkish central bank keeps policy rate unchanged at 50 pct SHOOTING TIME: File DATELINE: May 24, 2024 LENGTH: 00:01:06 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. various of Turkish central bank 2. various of Turkish lira 3. various of Turkish central bank 4. various of Turkish lira 5. various of Turkish central bank STORYLINE: Türkiye's central bank announced on Thursday that it would keep its interest rate unchanged at 50 percent, which is in line with market expectations. "Considering the lagged effects of the monetary tightening, the committee decided to keep the policy rate unchanged but reiterated that it remains highly attentive to inflation risks," the bank said in a statement. The bank said that the underlying trend of monthly inflation registered a limited decline in April, while the recent indicators point to a slowdown in domestic demand compared to the first quarter. Meanwhile, consumption goods imports increased in April, limiting the improvement in the current account balance.

        Nigerian central bank further raises interest rate to over 26 pct

        STORY: Nigerian central bank further raises interest rate to over 26 pct SHOOTING TIME: May 22, 2024 DATELINE: May 23, 2024 LENGTH: 00:01:09 LOCATION: Abuja CATEGORY: ECONOMY SHOTLIST: 1. various of a busy street in Nigeria 2. various of the central bank building 3. various of press briefing by central bank officials 4. SOUNDBITE (English): YEMI CARDOSO, Governor of the Central Bank of Nigeria STORYLINE: Nigeria's central bank on Tuesday further raised the benchmark interest rate, pushing it by 150 basis points to 26.25 percent, in a move to combat the country's persistent inflation. This latest hike marks a continuation of Nigeria's aggressive monetary tightening strategy aimed at stabilizing the economy. It is the third consecutive one this year, since February, to raise the baseline interest rate known as the monetary policy rate. Yemi Cardoso, governor of the Central Bank of Nigeria, who chairs the Monetary Policy Committee, told the media at the end of a meeting in the capital of Abuja that th

          Bank of Japan cuts purchases of Japanese government bonds

          STORY: Bank of Japan cuts purchases of Japanese government bonds SHOOTING TIME: April 30, 2024 DATELINE: May 14, 2024 LENGTH: 00:01:44 LOCATION: Tokyo CATEGORY: ECONOMY SHOTLIST: 1. various of Bank of Japan 2. various of banks in Tokyo STORYLINE: The Bank of Japan (BOJ) on Monday announced a reduction of the amount of Japanese government bonds it offered to buy in a regular purchase operation. The central bank offered to buy 425 billion yen (about 2.73 billion U.S. dollars) in Japanese government bonds with five to 10 years left to maturity, down 50 billion yen from the previous such operation. The benchmark yield on the 10-year Japanese government bond subsequently climbed to a six-month high of 0.935 percent at one point. The reduction was the first since the BOJ in March adjusted its massive monetary easing, including ending its negative interest rate policy. Some market participants saw the move as the BOJ's latest effort to counter the weakening yen. BOJ Governor Kazuo Ueda has said r

            Swedish central bank cuts interest rate amid weak economy

            STORY: Swedish central bank cuts interest rate amid weak economy SHOOTING TIME: May 8, 2024 DATELINE: May 9, 2024 LENGTH: 00:01:31 LOCATION: Stockholm CATEGORY: ECONOMY SHOTLIST: 1. various of Sweden's central bank 2. various of Stockholm street STORYLINE: Amid weak economic activity, Sweden's central bank lowered its benchmark interest rate from 4 percent to 3.75 percent on Wednesday. This is the first rate cut in eight years. The Riksbank said the change to the policy rate will apply from May 15. The Riksbank's executive board said that if the outlook for inflation still holds, two more policy rate cuts can be expected in the second half of the year. "It was expected. They cut the interest rate because inflation is sinking towards the target even faster than the Riksbank had predicted, and the economy is weak," said Alexander Noren, an economic commentator on Swedish Television (SVT). "However, they will proceed carefully and not spring any surprises," Noren added. "I am totally convinced

              Laos' inflation eases slightly to 24.92 pct in April

              STORY: Laos' inflation eases slightly to 24.92 pct in April SHOOTING TIME: May 2, 2024 DATELINE: May 3, 2024 LENGTH: 00:02:26 LOCATION: Vientiane CATEGORY: ECONOMY SHOTLIST: 1. various of a bank in Laos 2. various of a road in Laos 3. various of a market in Laos STORYLINE: Laos recorded an inflation rate of 24.92 percent in April, a slight decrease from 24.98 percent in March, the Lao Statistics Bureau said on Monday. According to the report released by the Lao Statistics Bureau on its website, the unstable price of fuel, gas and other imported goods, together with the depreciation of the Lao currency kip, are among the main drivers of the inflation. The highest price rise in April was recorded in the clothing and footwear category, which stood at 37.62 percent year-on-year. Other categories included medical care and medicines at 36.09 percent, alcohol and tobacco at 28.52 percent, household goods at 27.08 percent, and communications and transport at 25.99 percent. Laos' economy is exposed

                U.S. Fed keeps interest rates unchanged at 5.25-5.5 pct as inflation ticks up

                STORY: U.S. Fed keeps interest rates unchanged at 5.25-5.5 pct as inflation ticks up SHOOTING TIME: May 1, 2024 DATELINE: May 2, 2024 LENGTH: 00:01:14 LOCATION: Washington D.C. CATEGORY: ECONOMY SHOTLIST: 1. various of Jerome Powell at the press conference STORYLINE: The U.S. Federal Reserve on Wednesday left interest rates unchanged at a 22-year high of 5.25 percent to 5.5 percent as recent consumer data indicates that inflation continued to tick up. "Inflation has eased over the past year but remains elevated. In recent months, there has been a lack of further progress toward the Committee's 2 percent inflation objective," the Federal Open Market Committee (FOMC), the Fed's policy-setting body, said in a statement released after the Fed's two-day policy meeting. "The economic outlook is uncertain, and the Committee remains highly attentive to inflation risks," the statement read. Beginning in June, the Committee will slow the pace of decline of its securities holdings by reducing the monthly

                  Bank of Japan keeps interest rate unchanged, yen sinks below 156

                  STORY: Bank of Japan keeps interest rate unchanged, yen sinks below 156 SHOOTING TIME: file DATELINE: April 27, 2024 LENGTH: 00:01:37 LOCATION: Tokyo CATEGORY: ECONOMY SHOTLIST: 1. various of Bank of Japan 2. various of city view in Tokyo 3. various of fresh food in supermarkets 4. various of city view in Tokyo STORYLINE: The Japanese central bank on Friday maintained its policy rate unchanged after wrapping up its two-day policy meeting, which sent the Japanese yen to its fresh 34-year low past the 156 line. The Bank of Japan (BOJ) decided to guide short-term interest rates in a range of zero and 0.1 percent, a month after it ended the negative interest rate policy in its first rate hike in 17 years. The announcement weakened the country's currency against the U.S. dollar to the lowest level since May 1990, raising the risk of forex intervention by Japanese authorities. The BOJ, which also maintained its policy regarding government bond buying, said the country's core inflation, which excludes volatile

                    Turkish central bank keeps policy rate unchanged at 50 pct

                    STORY: Turkish central bank keeps policy rate unchanged at 50 pct SHOOTING TIME: Earlier footage DATELINE: April 26, 2024 LENGTH: 00:01:04 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. various of Turkish Central Bank 2. various of Turkish lira STORYLINE: Türkiye's central bank on Thursday kept its interest rate unchanged at 50 percent, saying that the monetary policy decisions in March have led to a significant tightening in financial conditions. "Considering the lagged effects of the monetary tightening, the committee decided to keep the policy rate unchanged, but reiterated that it remains highly attentive to inflation risks," the bank said in a statement, adding that it will maintain the tight monetary stance until a significant and sustained decline in monthly inflation is observed. Despite the ongoing decline, the underlying trend of monthly inflation in March was higher than expected, the statement said. "While imports of consumer goods and gold contribute to the improvement in the current

                      ECB leaves interest rates unchanged

                      STORY: ECB leaves interest rates unchanged SHOOTING TIME: April 11, 2024 DATELINE: April 12, 2024 LENGTH: 00:01:53 LOCATION: FRANKFURT, Germany CATEGORY: ECONOMY SHOTLIST: 1. various of the European Central Bank 2. various of the EBC press conference 3. SOUNDBITE (English): CHRISTINE LAGARDE, ECB President 4. various of the European Central Bank STORYLINE: The European Central Bank (ECB) on Thursday decided to leave key interest rates unchanged after its regular rate-setting meeting in Frankfurt, Germany. The three key interest rates are still hovering at historically high levels. The interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility remain unchanged at 4.5 percent, 4.75 percent and 4 percent respectively, the ECB announced in a statement. SOUNDBITE (English): CHRISTINE LAGARDE, ECB President "So in conclusion, the governing council today decided to keep the three key ECB interest rates unchanged. We are determined to ens