Egypt central bank to hold rates after inflation pick-up -survey

Egypt's central bank is expected to keep interest rates on hold on Thursday, choosing not to cut borrowing costs to boost a slowing economy after inflation hit a five-month high in March.

Five economists surveyed by Reuters all forecast that the bank's monetary policy committee (MPC) would keep its overnight rates unchanged at 9.75 percent for lending and 8.75 percent for deposits at its meeting.

"Given the rise in the inflation rate in March, it is our expectation that the MPC in Egypt will maintain rates," said Angus Blair, chairman of business and economic forecasting think-tank Signet Institute.

Price pressures eased in November but have crept back up since, in part due to a weaker Egyptian pound.

Urban consumer inflation rose to 11.5 percent in March from 10.6 percent the previous month and core inflation ticked up to 7.21 percent from 7.15 percent.