Egypt Central Bank Governor Quits Amid Inflation Rise

The governor of Egypt’s central bank, Tarek Amer, has resigned more than a year before the end of his second term in office.

The move – which triggered a sell-off of government bonds – comes one day before the monetary policy committee is expected to raise interest rates.

Inflation stands at nearly 15%, three times what it was only a year ago.

Mr Amer said he was stepping down to give others the opportunity to continue the successful development under President Abdel Fattah al-Sisi, who accepted his resignation.

Source: BBC