Egypt interest rate hikes to control inflation

The Central Bank of Egypt has decided to maintain interest rates for the fourth consecutive time in an effort to curb short-term inflation. This decision comes amid expectations that inflation rates will decline to below 17% by the end of the year, due to regional disturbances and their impact on energy prices. The decision follows an increase in the annual inflation rate in July to 14.9%, with monthly prices remaining relatively stable. The bank's preference to wait reflects a cautious approach, to monitor global and regional developments—particularly energy prices and geopolitical disruptions—that influence inflation and economic growth. The projected average GDP growth is expected to reach 5% in 2025-2026.

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