Egypt Independent

Egypt’s central bank keeps key interest rates on hold – statement



CAIRO, June 25 (Reuters) — The Central Bank of Egypt (CBE) kept its main interest rates steady on Thursday, despite a decline in inflation in May and continuing economic pain caused by the coronavirus.

All but one of the 17 analysts polled predicted the central bank would keep rates steady at its regular monetary policy committee meeting on Thursday. The one dissenting analyst forecast a 100 bps cut.

___

Reporting by Nadine Awadalla; Editing by Jon Boyle

Image: A man wearing a protective face mask withdraws money from an ATM at the Al Shohadaa “Martyrs” metro station as Egypt ramps up efforts to slow the spread of coronavirus disease COVID-19 in Cairo, Egypt, March 22, 2020. (REUTERS/Mohamed Abd El Ghany/File Photo)