Banks issue new savings certificates at high interest rates; others increased return on current certificates, while the rest are still studying the market
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NBE and BM decided on 12 June and 13 June to increase the interest rates on deposits, while savings account interest increased by 0.75% to 1%.
The step came after public banks raised their interest rates and an increase occurred in the return on debt instruments by which banks invest most of their liquidity in pounds
Return on treasury bills for 3, 9 months increased after CBE lifted interest rate
The CBE is widely projected to raise basic interest rates by 0.5-1 percentage points next Thursday to shore up the pound