February 24, 2017 / 9:42 PM / 7 months ago

No further inflation impact from Egypt's currency float -central bank governor

CAIRO, Feb 24 (Reuters) - Egypt’s floating of its pound currency has already had its effect on inflation and will not impact it again, Central Bank Governor Tarek Amer said on Friday.

“The inflationary shock has happened, liberalising the exchange rate will not have an effect on inflation again,” Amer told local broadcaster DMC in a televised interview.

Egypt’s core inflation soared to its highest level in more than a decade, hitting 30.86 percent in January. The central bank abandoned its currency peg to the U.S. dollar on Nov. 3. (Reporting by Ahmed Aboulenein; Editing by Catherine Evans)

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