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FINANCIAL NEWS
Egypt Central Bank to cut interest rates by 1pct
13 Sep 2017
(MENAFN) Egypt Central Bank is projected to reduce rates by 1 percent at Dec monetary policy committee meeting.
Accordingly, the extra monetary easing is likely in the coming year and it predicts rates to be cut more that most expect.
However, the fall in Egyptian inflation in August, to 31.9 percent year on year, confirms that it has now passed its peak.
Furthermore, food inflation, which accounts for almost 40 percent of the CPI basket, came in at 41.6 percent last month, down from 42.3 percent.
MENAFN1309201700450000ID1095850947
MENAFN1309201700450000ID1095850947
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