Egypt holds rates at 27.25%
Central bank projects gradual decline in inflation, but points to upside risks from US tariffs
The Central Bank of Egypt on February 20 held its benchmark interest rate at 27.25% as it continues in its efforts to tackle high inflation.
Annual consumer price inflation dropped slightly to 24% in January from 24.1% in December – which, in turn, was down from 25.5% in November. The latest figure nevertheless remains well above the central bank’s target of 5% with a buffer of two percentage points on either side.
The bank said it expected headline inflation to “decline substantially” in the
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