Egypt holds policy rates
Central bank says improved external financing after IMF loan will help price stability
The Egyptian central bank held all of its key policy rates flat on May 23, even though inflation dropped last month.
The Central Bank of Egypt’s monetary policy committee (MPC) kept the overnight deposit rate at 27.25%, and also held all its supplemental rates. Official headline inflation fell to 32.5% in April, down from 33.3% in the previous month, while core inflation dropped to 31.8% from 33.7%.
The central bank said that its forecasts indicates inflation had already peaked and was likely to
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