JPMorgan, a leading financial institution, has predicted a significant 200 basis points rate hike in Egypt as inflation continues to surge. The firm's forecast comes amidst growing concerns over the country's rising inflation rates, which have been described as going 'to the moon'.
Egypt has been grappling with soaring inflation levels in recent months, driven by a combination of factors including supply chain disruptions, rising global commodity prices, and domestic economic challenges. The Central Bank of Egypt has been under pressure to take action to curb inflation and stabilize the economy.
