Cairo – Mubasher: The Central Bank of Egypt (CBE) has succeeded in achieving its inflation target of 13% (±3%) faster than the government had hoped for, thanks to the base effect, according to a recent report by MubasherTrade on Monday.
Inflation is expected to maintain falling until the end of this fiscal year, the research company added, forecasting inflation to record 13% in March.
The CBE is likely to cut interest rates by 200 basis points in its upcoming meeting on 29 March, the report noted.
“Now that the CBE has scored a goal when it comes to inflation, we see the game is not over yet,” the report continued.
Inflation rates are projected to retreat over the coming period to reach 13% next month, analysts told Mubasher.
