A renewed focus on Egypt’s external position appears to have been the main reason why the central bank kept the benchmark overnight deposit rate unchanged at 8.75% today, rather than lower rates. The impending change in central bank governor has clouded the outlook for monetary policy, but we still think a rate cut is a distinct possibility.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services