The Central Bank of Egypt (CBE) announced on Wednesday that its Monetary Policy Committee (MPC) meeting that was scheduled to be held on Thursday has been postponed to 16 January 2020.

The CBE said in a statement that its board members and MPC's new formation have not been adopted yet, which is the reason behind the postponement.

With the postponing of the meeting, which was scheduled to be the last meeting of the committee in 2019, the total interest rate cuts that the CBE has introduced in 2019 recorded 4.5 percent (450 bps) in response to the declining inflation rate.