Newsroom
Short, verified market news summaries; every item names its source and publication date.
Central Bank of Egypt Holds Rates for Third Straight Meeting as June Inflation Eases to 14.3%
Egypt's central bank Monetary Policy Committee left key interest rates unchanged on Thursday, July 9, 2026, for the third consecutive meeting this year. The overnight deposit rate was held at 19%, the overnight lending rate at 20%, the main operation rate at 19.50%, and the discount rate at 19.50%. The decision followed June inflation data showing annual urban consumer inflation eased to 14.3%, down from 14.6% in May; prices fell 0.4% month on month, driven mainly by a 3.2% monthly drop in food and beverage prices. The central bank noted that renewed risks from US Iran tensions could prompt caution in future rate decisions.
Egypt Today · Jul 11, 2026
South African Rand Gains 0.6% Against Dollar as Gold Prices Climb Over 1%
The South African rand strengthened about 0.6% against the US dollar on Thursday, July 9, 2026, trading around 16.32 per dollar, as global gold prices rose more than 1% on the day. Gold is South Africa's most important export commodity, and a higher bullion price typically boosts the rand through improved foreign-currency inflows from mining exports. However, the Minerals Council of South Africa has forecast the country's gold output will stay roughly flat at about 90 metric tons this year despite record prices.
Finimize · Jul 11, 2026