Egypt set to keep interest rates steady again
Economic expert forecasts indicate that the Central Bank of Egypt is expected to keep the main interest rates unchanged during the August 20th meeting, marking the fourth consecutive hold, as it awaits a decline in inflation before implementing a new cut. Analysts confirmed that inflation in July rose to 14.9% from 14.3% in June, driven by a 12% average increase in electricity prices during July, which may delay an early interest rate reduction. The decision to maintain interest rates reflects the bank's desire to assess the impact of rising energy costs on inflation, with expectations of keeping rates steady until the end of 2026, and resuming rate cuts in 2027 once inflation declines significantly.
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