Egypt Likely to Keep Interest Rates Stable Fourth Meeting

Economic experts anticipate that the Central Bank of Egypt will keep the main interest rates unchanged for the fourth consecutive time, awaiting a decline in inflation before resuming interest rate cuts. According to a Reuters poll, the deposit rate is expected to remain at 19 percent and the lending rate at 20 percent at the Monetary Policy Committee meeting on August 20, noting that the rise in inflation in July and an increase in electricity prices make hold decisions more likely. Although Egypt's annual inflation rose to 14.9 percent in July, this increase was partly due to differences in last year's prices rather than a strong inflation wave. Additionally, the average 12 percent rise in electricity prices may delay interest rate cuts until 2027, as the central bank aims to assess the impact of this increase before making any easing decisions, while preserving the real return on the Egyptian pound and avoiding excessive inflation deceleration.

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