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Egypt central bank likely to leave interest rates unchanged: Beltone

Manageable inflation and a slowly recovering economy means the monetary policy committee will agree to keep rates steady after Thursday's meeting, predicts local investment bank

Ahram Online, Thursday 18 Oct 2012
Views: 841
Views: 841

Egypt's central bank is likely to keep key interest rates unchanged for another month when its policy committee meets later on Thursday, analysts believe.

The country's manageable inflation rates, "slowly recovering" economic activity and continued currency pressures will stop the bank from making a change of course, said a Thursday note from Beltone Financial, a local investment bank.
In September, the central bank kept Egypt's key lending rate steady at 10.25 per cent and its deposit rate at 9.25 per cent.  The seven-day repurchase agreement (repo) rate remained at 9.75 per cent.  
These rates have been at their current levels since November 2011, when the central bank moved to protect local currency deposits.
The bank's Monetary Policy Committee will announce the results of its meeting early Thursday evening.
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