The Central Bank of Egypt has raised its benchmark interest rate for the first time in nearly three years, making Egypt one of the latest African economies to tighten monetary policy.
The move is notable because it comes even as inflation in the country has been easing, a signal that the central bank is responding to pressures beyond just rising prices at home.
What this means for everyday Egyptians, and for investors watching the continent's largest Arab economy, is a question worth sitting with as the full details of the rate decision continue to unfold.
Originally published by BusinessDay.