Egypt's state National Investment Bank slashes yields on certificates
By Reuters Staff 1 Min Read CAIRO (Reuters) - Egypt’s state-owned National Investment Bank (NIB) slashed yields on its investment certificates by up to 3.75% over the weekend, bankers said on Sunday. The surprise yield reduction could indicate the central bank is preparing to lower its overnight interest rates when its monetary policy committee meets on Thursday, two analysts told Reuters. Yields on certificates with a maturity of one year were now 6%, on two years 6.5%, on three years 9% and on 10 years 9.5%, according to the website of the state-owned National Bank of Egypt (NBE), which m...
Source: reuters.com