Egypt holds interest rates
Central bank expects inflation to fall as economy slows
The Central Bank of Egypt (CBE) held its key rates on October 17, after inflation edged up slightly in September.
The CBE kept its overnight deposit rate at 27.25%, its overnight lending rate at 28.25% and the main operation rate at 27.75%.
It said inflation was susceptible to upside risks because of commodity and energy prices. These, it said, had been volatile owing to disruption caused by geopolitical tensions.
Headline inflation ticked up from 26.2% in August to 26.4% in September, driven by
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