Central Bank of Egypt's headquarters is seen in downtown Cairo, Egypt March 8, 2016. REUTERS/Mohamed Abd El Ghany
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
After a year of rising U.S. interest rates and political volatility that drove up borrowing costs in much of the Middle East and North Africa, the region's central banks have more divergent goals in 2018 .LebanonThe political crisis – and bond sell-off – following the resignation of Prime Minister Saad Hariri in November reminded investors of Lebanon's vulnerability to turmoil and reliance on remittances.They underpin government spending, which includes a $1.2 billion stimulus package to boost an economy forecast by the IMF to grow at 2 percent this year.One problem for the Central Bank is that raising rates to attract more inflows could contradict efforts to support growth. The case for policy inaction stems partly from Cetinkaya's insistence that inflation will slow from 11.9 percent to 7 percent by the end of this year, bringing it closer to the long-term target of 5 percent.Headline inflation, which fell to 26 percent in November from 30.8 percent a month earlier, may slow to 13 percent in the fourth quarter, according to the central bank.
FOLLOW THIS ARTICLE