Cairo – Mubasher: The Central Bank of Egypt (CBE) may raise key interest rates by 100 points in the coming Monetary Policy Committee's (MPC) meeting next Thursday, according to a report issued by Prime Research.
This expected rise will likely aim at lowering inflation rates, said the research firm, expecting the Egyptian government to adopt a new monetary policy after having the first tranche of International Monetary Fund's (IMF) loan.
"The government is forecast to adopt deflationary measures and to raise interest rates for encouraging savings and absorb increasing market's liquidity", the report indicated.
On 28 July, the MPC meeting decided to leave key interest rates unchanged.
Earlier, the Central Agency for Public Mobilisation and Statistics (CAPMAS) said the country's inflation rate soared to 16.4% on an annual basis.
