Cairo – Mubasher: The Central Bank of Egypt (CBE) is expected to resume its easing cycle in its next upcoming meeting in April, according to a recent report by Capital Economics.
Rising concerns over the spread of the new coronavirus (COVID-19) along with the steep drop in inflation below the Central Bank of Egypt’s (CBE) target range of 9% plus or minus 3 percentage points allow policymakers to lower interest rates by 50 basis points (bps) to 11.7%.
Capital Economics expects the CBE to further slash interest rates to 10% by the end of 2020 and 9.5% by the end of 2021.
The most populous nation’s annual headline inflation rate stood at 4.9% in February, compared to 6.8% a month earlier, according to recent data released by the Central Agency for Public Mobilization and Statistics (CAPMAS
