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Average yields on Egypt 5-, 10-year T-bonds jump after surprise rate hike -c.bank
May 22, 2017 / 1:16 PM / 7 months ago

Average yields on Egypt 5-, 10-year T-bonds jump after surprise rate hike -c.bank

CAIRO, May 22 (Reuters) - Average yields on Egypt’s five-year and 10-year treasury bonds jumped at an auction on Monday, data from the central bank showed.

The yield on the five-year bond rose to 18.760 percent from 17.357 percent at the previous auction, while the yield on the 10-year bond increased to 18.652 percent from 17.244 percent.

The central bank raised its key interest rates by 200 basis points on Sunday, citing stronger economic growth and falling unemployment, confounding the expectations of economists who forecast rates were unlikely to change. (Reporting by Asma Alsharif; Editing by Ahmed Aboulenein)

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