Cairo – Mubasher: The Central Bank of Egypt’s (CBE) decision to cut interest rates is expected to have a positive impact on the liquidity of the Egyptian Exchange (EGX), according to a report released by Beltone Research on Saturday.
The cut of interest rates will boost eight EGX-listed stocks, including Ezz Steel, Al Ezz Dekheila Steel – Alexandria, Ghabbour Auto, Palm Hills Development, SODIC, Madinet Nasr Housing and Development (MNHD), Heliopolis Housing, and Orascom Construction.
Beltone Research stated that the CBE was expected to cut interest rates by 400 basis points by the end of 2020.
The CBE decided in its meeting on Thursday to cut the current interest rates by 150 bps.
