CBE holds rates for a fourth meeting as inflation risks linger
· Egyptian market news
The Central Bank of Egypt’s (CBE) Monetary Policy Committee (MPC) held interest rates steady for the fourth consecutive meeting on Thursday statement (pdf) February’s 100-bps cut
The hold was the safe call, and the expected one: July’s annual urban inflation 14.3% in June July electricity cost increase
The CBE’s own forecast explains the caution: averaged 14.6% in 2Q
The CBE has more room to wait than it did a few months ago. USD 55.1 bn at the end of June
But a stronger external position does not eliminate inflation risk:
(** Tap or click the headline above to read this story with all of the links