Egypt’s central bank to decide on key interest rates Thursday

The meeting will be held amid expectations the MPC will maintain the current interest rates. Tightening the monetary policy by raising interest rates is not effective at the time being to contain the soaring inflation in the country.

Moreover, the US Federal Reserve (Fed) is expected to announce its decision on the benchmark interest rates today amid projections it may maintain the current interest rates in light of the latest inflation and employment data in the US.

“The MPC is anticipated to keep the current interest rates unchanged in its meeting on Thursday in light of the country’s expected real GDP growth slowdown and the elevating inflation,” banking expert and CEO of AlRaya Consulting Hany Abul-Fotouh told Ahram Online.