24 Hrs
Source:
الشرق الأوسط
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.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)