Reported about 1 month ago
Egypt has decided to keep its interest rates at record highs, with the deposit rate set at 27.25% and the lending rate at 28.25%, as it assesses the impact of recent subsidy cuts on inflation. After experiencing a monthly inflation rate decline for five consecutive months, the central bank is cautious following significant price hikes for essential goods earlier this year. Economists predict inflation will stabilize around current levels until late 2024.
Source: YAHOO