Egypt’s central bank left interest rates unchanged for a second meeting on Thursday as it faces a potential resurgence in inflationary pressures from a fresh wave of subsidy cuts.
The Monetary Policy Committee kept the overnight deposit rate at 15.75% and the lending rate at 16.75% -- a decision predicted by all but one of 11 economists surveyed by Bloomberg. Cairo-based investment bank EFG Hermes has said the pause may extend beyond the summer.
