Cairo – Muabsher: Capital Economics forecasted the Central Bank of Egypt (CBE) to lower interest rates by 100 points during the Monetary Policy Committee’s (MPC) meeting, which is set to be held on 28 December.
The CBE is likely to reduce interest rates to 12.75% by the end of 2018, the London-based company noted in a research note on Tuesday.
The economic research firm pointed out that interest rates will keep declining to 10.5% by the end of 2019.
Inflation rates are likely to drop over the coming months, which will push the Central Bank of Egypt (CBE) to reduce interest rates, the research firm added.
During the MPC’s meeting in September 2017, the CBE decided to maintain interest rates without change.
