Egypt's central bank to keep interest rates unchanged

The Central Bank of Egypt (CBE) will leave its overnight interest rates steady at a meeting on Thursday, a Reuters poll forecast, despite signals the U.S. Federal Reserve will soon begin raising interest rates on the dollar.

All 18 analysts polled predicted Egypt's central bank would keep rates unchanged at its regular monetary policy committee meeting.

The bank has left its lending rate at 9.25% and its deposit rate at 8.25% since November 2020, when they fell to their lowest since July 2014. The bank's real interest rates are still among the highest in the world.

"In general, underlying inflationary pressures have remained muted, supporting another decision to hold rates steady," said Mohamed Abu Basha of EFG Hermes.