Egypt Keeps Rates on Hold After Inflation Shows Signs of Slowing
- Deposit rate is left at 19.25%, in line with most forecasts
- Central bank set to stay on pause until possible devaluation
The Monetary Policy Committee maintained the deposit rate at 19.25% and the lending rate at 20.25%.
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Egypt kept interest rates unchanged amid signs of softening inflationary pressures, likely refraining from further monetary tightening until it manages a much-awaited currency devaluation.
The Monetary Policy Committee maintained the deposit rate at 19.25% and the lending rate at 20.25%, it said on Thursday. Eight out of 13 economists in a Bloomberg survey correctly predicted the decision.