Cairo – Mubahser: Egypt’s inflation rate is expected to continue to retreat in the last four months of 2019, Capital Economics said in a report on Tuesday.
The overnight deposit rate is also forecast to lower by 125 basis points (bps) to 13% by the end of this year, the report added.
In August, the Central Bank of Egypt’s (CBE) Monetary Policy Committee (MPC) decided to reduce interest rates by 1.5%.
Previously, the Central Agency for Public Mobilization and Statistics (CAPMAS) announced that Egypt’s annual inflation rate dropped to a four-year low of 7.8% in July from 13% in the same month a year earlier.
