Egypt's central bank will likely make a third consecutive cut to its key in...
CAIRO - Egypt’s central bank will likely make a third consecutive cut to its key interest rates on Thursday, a Reuters poll showed, as inflation fell to its lowest in nearly 14 years in October.
“October’s low inflation figure increases the CBE’s room to cut rates at its meeting on Thursday whilst maintaining attractive real interest rates,” said Callee Davis, an economist at NKC African Economics. But economists also expected the comparative inflation rates in November and December 2018, which were relatively lower, to diminish the favorable base effect.
“The significant drop in inflation figure is just temporary due to a very high/favorable base effect of 2H18,” said Noaman Khalid, an economist at CI Capital, who predicted the bank would hold rates.
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